Vivendi stock hit a 19-year high Thursday in the wake of UMG's capital markets day presentation to European investors, over which Uni topper Sir Lucian Grainge presided on 8/25. Trading for the music giant's IPO will kick off 9/21 on Euronext Amsterdam.
French parent Vivendi saw a 4.4% boost in its shares and hit a high of €32.86 ($38.07) on 8/26 before closing at $37.08. The stock is up nearly 14% from $33.22 a month ago.
Citi, which appears to know a thing or two about finance, remarked that UMG "did a very good job in using its first capital markets day to unveil its own outlook," per a Dow Jones Market Talk story, which also notes UMG's "hugely strong position in the industry" and the increasing predictability of music earnings thanks to subscription revenue.
