Spotify to go public on April 3

Agence France-Presse

<div class="embed-wrap"><figure data-feedback="fb:likes,fb:comments"><img src="http://sa.kapamilya.com/absnews/abscbnnews/media/2018/news/03/16/spotify.jpg"/><figcaption>Headphones are seen in front of a logo of online music streaming service Spotify, February 18, 2014 Christian Hartmann, Reuters/FILE PHOTO</figcaption></figure></div>NEW YORK - Spotify will go public on April 3 as the world&#x27;s largest streaming company lists on the New York Stock Exchange.Paul Vogel, the Swedish company&#x27;s head of investor relations, made the announcement at the start of a day of briefings to potential investors in New York.Spotify had announced the long-awaited public listing on February 28 without giving a date. In an unusual move, the company is not issuing new shares as in a traditional initial public offering.It instead will directly list its shares on the New York Stock Exchange, allowing its founders to maintain control and avoiding the cost of Wall Street underwriters.&quot;For us, going public has never been about the pomp or the circumstance of it all,&quot; Spotify&#x27;s 35-year-old co-founder and CEO Daniel Ek told the investors.&quot;So you won&#x27;t see us ringing any bell or throwing any parties, and despite the enormous respect I have for the New York Stock Exchange in this process, I also won&#x27;t be on the floor doing any interviews,&quot; he said.Spotify, in a filing to US regulators, said that it had a 42 percent share of the global market in streaming in revenue terms in 2016.Spotify has voiced confidence that streaming will keep up its fast-paced growth although the company has acknowledged that it has yet to turn a profit.<div> © Agence France-Presse</div>

Spotify will go public on April 3 as the world's largest streaming company lists on the New York Stock Exchange.

Spotify will go public on April 3 as the world's largest streaming company lists on the New York Stock Exchange.

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Spotify to go public on April 3

Spotify to go public on April 3

Agence France-Presse

Published Mar 16, 2018 08:15 AM PHT

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