SPOTIFY HAS FILED FOR A $1 BILLION USD IPO

Music streaming service Spotify has officially filed for a $1 billion USD IPO. The service filed for a direct listing which lets Spotify list existing shares, owned by investors and employees, without raising new capital or bringing in a Wall Street bank to underwrite the transaction which is typical in most IPOs. Spotify is valued at between $16.8 billion and $22.5 billion, based on recent ordinary share prices between $95 and $127.50 in the private markets in February and 178 billion shares estimated outstanding by the end of February, according to its filing. The company is seeking to list its ordinary shares on the New York Stock Exchange under the ticker symbol “SPOT.”

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