The world’s largest music company, which trades on the pan-European Euronext stock market in Amsterdam, plans to list shares in the U.S. later this year.
HYBE, SM Entertainment, JYP Entertainment and YG Entertainment saw an average decline of 4.3% this week as music stocks overall were up 0.2%.
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 20-company Billboard Global Music Index fell 3.7% to 2,896.56, its second consecutive drop.
Spotify and other streaming companies were the standouts in a six-month period marred by tariff uncertainty.
Led by Spotify, the 20-company Billboard Global Music Index jumped 9.2% to a new high of 3,112.87.
Spotify finished the week down 0.5%, however, and the 20-company Billboard Global Music Index fell 2.4%.
Although 14 of the 20 stocks in the Billboard Global Music Index lost value, it declined just 0.2% as many of the companies with the biggest impact fared well.
Spotify peaked at $717.87 on Thursday (June 5) and finished the week up nearly 53% in 2025.
The K-pop company's stock declined 6.8% for the week ended May 30 as the 20-company Billboard Global Music Index was unchanged.
