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Read more…In September, 2021, global music production company, Universal Music Group, went public on the Euronext Amsterdam stock exchange. Here’s what we know about the IPO and how to buy Universal Music Group stock in Canada.
On September 21, 2021, Universal Music Group went public on the Euronext Amsterdam under the ticker symbol “UMG.” The offering took place after a 10% stake in UMG was acquired by Pershing Square Holdings, a UK-based investment company that also trades on the Euronext Amsterdam (ticker symbol “PSH”).
On September 21, UMG stocks opened at a price of €25.25 (roughly $35 CAD), which was higher than the expected price of €18.50. Altogether, the company earned a market valuation of around €46.3 billion (roughly $63.3 billion CAD) from the IPO. Rival music production company, Warner Music Group, saw its Nasdaq stock price rise the day Universal debuted in Amsterdam, a side effect of investors’ optimism in UMG.
Initially, UMG was slated to be bought by Pershing Square Tontine Holdings, a special purpose acquisitions company (SPAC) owned by billionaire investor Bill Ackman.
But the deal fell through amid concerns expressed by the US Securities and Exchange Commission (SEC) that the structure of the international business company would violate the rules of the New York Stock Exchange. Furthermore, investors lacked confidence in the deal, as the SPAC’s stock price had fallen by 18% following the announcement of the merger.
You can’t buy Universal Music Group stock on a Canadian stock exchange like the TSX or CSE. Instead, you need a Canadian broker that provides access to stocks sold on the Euronext Amsterdam (AEX), the Netherlands-based exchange on which Universal Music Group stocks are trading.
However, some Canadian brokerages don’t offer access to international investments at all or only provide access to a limited range of investment opportunities.
Interactive Brokers provides access to many stock exchanges around the world including the Euronext Netherlands (AEB), Frankfurt Stock Exchange (FRA), London Stock Exchange (LSE), New York Stock Exchange (NYSE), NASDAQ, Toronto Stock Exchange (TSX), Hong Kong Stock Exchange (SEHK), Korea Stock Exchange (KRX) and National Stock Exchange of India (NSE).
The process of buying stocks listed on international exchanges is basically the same as buying stocks in a Canadian company. You buy and sell using your online trading account or through an investment broker who handles international stocks.
How to buy international stocks in Canada
You can buy Universal Music Group stock with an international brokerage account. Here’s how it works:
To buy stocks, you’ll need to open a brokerage account. Compare your options using the table below to find the best fit for you.
Note: The dollar amounts in the table below are in Canadian dollars.
To make comparing even easier we came up with the Finder Score. Trading costs, account fees and features across 10+ stock trading platforms and apps are all weighted and scaled to produce a score out of 10. The higher the score the better the platform - simple.
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