Universal Music Group (UMG) announced Wednesday (January 15) that Pershing Square Holdings, led by billionaire investor Bill Ackman, has requested a secondary listing of the music company on a US stock exchange. Under a previously disclosed agreement, UMG will facilitate an underwritten offering for Pershing Square to sell a portion of its shares by September 15, 2025. Source: Universal Music Group set to list on US exchange; Pershing Square to sell $500m in UMG stock to make it happen