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Spotify files for direct listing, unique steps at the public level

Spotify service announces plans to become public on Wednesday.

The company will start trading on the New York Stock Exchange under the name SPOT. According to the company, shares in the private market traded $ 132.50, giving the company more than $ 23 billion in shares on February 22, 2000.

Here’s the F1 app from the Spotify app.

Spotify is the premier music service in the world and reports to companies of 71 million subscribers and over 159 million active monthly listeners from December 2017. It is available in 61 countries and territories. The closest competitor, Apple Music, is far from 36 million subscribers.

The company announced sales of $ 2.37 billion in 2015, $ 3.6 billion in 2016 and $ 4.99 billion in 2017, according to F1. (This is based on the current renewal of the euro for the dollar). They say that customer payments will grow 46% year-on-year, while MAU grows 29% over the previous year. The company reported a loss of $ 1.5 billion in 2017.

“We welcome a review of the music industry and a better way for artists and users to take advantage of this transformation of the digital music industry,” said the company in its use. “Spotify is based on the belief that music is universal and staging is a more robust and continuous utility model for artists and music fans.”

the initial supply of shares of Spotify is not subscribed, which means that policyholders do not fix a fixed price, which informs the public of the New York Stock Exchange. Goldman Sachs is listed as a leader.

The following describes how the company describes its registration process:

NYSE’s opening price

Since the offer will be made with a new process that will not take the IPO, there will be an accounting process and not the price at which the original stock creditor is sold to the public to help inform the efficient pricing establishment in terms of the negotiation of opening. NYSE. We have rules from Morgan Stanley & Co NYSE. LLC’s financial advisors (‘Morgan Stanley’) are available to negotiate with the market maker’s mandate (‘DMM’) to determine its own stock at the opening price. NYSE. Based on the NYSE’s opening price of our knowledge of common shares determined by the NYSE through purchase and sales of orders collected by agents and NYSE NYSE, purchase orders can be managed at the order price.

The company said it would be called “as soon as possible after the registration statement was declared effective.”

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