TuneCore Parent Company Believe Aiming to Raise $600 Million for IPO
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variety.comJem Aswad Senior Music EditorDigital music company Believe announced plans for a Paris stock market listing on Monday, for which it is aiming to raise around 500 million euros ($608 million), according to reports in Reuters and Music Ally.The company’s digital music brands include TuneCore, Believe Distribution Services, Nuclear Blast, Naïve, Groove Attack and AllPoints.Believe cautioned that “the completion of the IPO is subject to the approval of the prospectus relating to the offering by the AMF, as well as favorable market conditions.” As noted by Music Ally, rumors about Believe being acquired by a larger company have circulated for months, so the tentative nature of the IPO may serve the purpose of pushing an acquisition forward..
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