BUSINESS Spotify to list shares in direct offering

BUSINESS

Spotify to list shares in direct offering

Reuters

05:22, March 24, 2018

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Headphones are seen in front of a logo of online music streaming service Spotify, February 18, 2014 .(Photo: Reuters)

Streaming music leader Spotify Technology SA on Tuesday filed for a direct listing of its shares.

In an amended filing with the U.S. Securities and Exchange Commission, the company expects shareholders to sell up to 55.7 million ordinary shares.

Spotify’s direct listing will let investors and employees sell shares without the company raising new capital or hiring a Wall Street bank or broker to underwrite the offering.


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