Spotify to list shares in direct offering

Published: March 24, 2018
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Headphones are seen in front of a logo of online music streaming service Spotify in this illustration picture taken in Strasbourg, February 18, 2014. 
PHOTO: REUTERS

Headphones are seen in front of a logo of online music streaming service Spotify in this illustration picture taken in Strasbourg, February 18, 2014. PHOTO: REUTERS

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

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

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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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