Warner Music (NASDAQ:WMG) has announced the launch of its initial public offering (IPO) and with it comes details that possible WMG investors might want to know.

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Here’s what to know about the Warner Music IPO.

• The IPO starts today and has Access Industries and other shareholders selling 70 million shares of WMG stock.
• Warner Music is expecting the price of the IPO to range from $23 per share and $26 per share.
• Underwriters of the IPO will also have the option to acquire an additional 10.5 million shares of WMG stock.
• In total, that means the IPO can generate as much as $2.93 billion.
• However, it’s worth pointing out that Warner Music Group will not receive any proceeds from the offering.
• That’s due to the offering being made up entirely of secondary shares of WMG stock.
• Access Industries is the owner of Warner Music after purchasing it for $3.3 billion in 2011.
• It also will continue to hold 99% of voting power in Warner Music via a separate class of shares.
• The joint book-running managers and underwriter representatives for the IPO are Morgan Stanley & Co. LLC, Credit Suisse Securities (USA) LLC and Goldman Sachs & Co. LLC.
• Other joint book-running managers for the IPO include BofA Securities, Inc., Citigroup Global Markets Inc. and J.P. Morgan Securities LLC.
• There are also a large number of co-managers taking part in the Warner Music IPO.
• All in all, the IPO may value the company as high as $13.3 billion.

As of this writing, William White did not hold a position in any of the aforementioned securities.