The form UMG submitted to the agency on Monday (July 21) puts it on track to list certain Pershing shares on a U.S. exchange by its Sept. 15 deadline.
The billionaire investor told the board he would step down due to new obligations stemming from his company's other investments.
The Chinese streaming platform says it bought $327 million worth of Universal's stock in mid-March, adding to a stake it had in UMG through a consortium of investors.
The sale on the Euronext Amsterdam exchange is separate from Pershing Square’s plan to force a listing on a U.S. exchange.
Pershing Square Holdings will sell some of its 10.25% stake in UMG for a listing on a U.S. exchange by September.
