Piano maker Steinway files for IPO

Details: Steinway reports $59 million of net income on $538 million in revenue for 2021, compared to $52 million on $415 million for 2020. It plans to list on the NYSE (STWY).

The bottom line: "The Steinway piano was the instrument of choice for approximately 97% of concert pianists when performing with orchestras across the globe during the 2018–2019 concert season, none of whom are compensated to use or endorse Steinway ... For decades, we have cultivated relationships with the most talented pianists from nearly every genre, including Jon Batiste, Billy Joel, Lang Lang and Regina Spektor." — Steinway IPO prospectus