After filing for public offering on the New York Stock Exchange last month, Spotify has announced a date for the offering. According to CNBC, the streaming giant will begin trading on April 3, with the company providing a full year of financial guidance on March 26. As previously reported, Spotify will still forgo a traditional IPO in favor of a “direct listing” of its shares, which allows the company to bypass initial fundraising while also allowing existing investors and insiders to trade on the open market. The public date was announced today during the company’s “Investor Day” livestream.
Spotify Announces First Public Trading Date
PARIS, FRANCE - JANUARY 06: In this photo illustration, the logo of the Swedish music streaming service Spotify is displayed on the screen of an iPhone on January 06, 2017 in Paris, France. Spotify announced, via a tweet published Thursday, that it now has 70 million paid subscribers. As a comparison, in September, Apple Music claimed 30 million subscribers and Deezer had fewer than 10 million subscribers. Spotify, the world's largest streaming music company, is expected to be listed on the Wall Street stock market in the first quarter of 2018. (Photo by Chesnot/Getty Images)
