Spotify confidentially filed IPO docs, wants to list in first half of 2018

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Spotify confidentially filed IPO docs, wants to list in first half of 2018.
(Reuters) — Music streaming service Spotify has filed confidentially with U.S. regulators for an initial public offering and is targeting a direct listing in the first half of 2018 that would allow some longtime investors to cash out, a source familiar with the matter said on Wednesday.

If Spotify, which was valued at as much as $19 billion last year, goes ahead with its plans, it would be the first major company to carry out a direct listing, an unconventional way to pursue an IPO without raising new capital.

A direct listing mainly eliminates the need for a Wall Street bank or broker to underwrite an IPO along with many associated fees and could change the way companies approach selling shares to the public.

The confidential filing was initially reported by news outlet Axios.



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wants
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list
in
first
half
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2018
Spotify confidentially filed IPO docs
wants to list in first half of 2018