Spotify to list shares on the New York Stock Exchange the week of April 2
According to "Bloomberg", streaming giant Spotify plans to list shares on the New York Stock Exchange the week of April 2.
Reportedly, Spotify will not be issuing any new shares or raising money in its initial public offering. Instead, existing stakeholders will offer their shares to investors, which is known as a direct listing. An active market for private stock sales over the past couple of years has helped the company establish a valuation higher than $20 billion, based on some of the transactions.
It seems that Spotify will host an investor day March 15 to tout the prospects of a company that has helped transform the music business; then it will spend the next few weeks meeting with investors to manage the uncertainty inherent in this approach, hoping to secure a smooth entry into the world’s largest stock exchange.