Spotify: files for long-awaited NYSE listing
(CercleFinance.com) - Spotify, the world's biggest music streaming subscription service, has filed a prospectus with the Securities and Exchange Commission to list its shares in US dollars on the NYSE.
While not yet specifying the terms of the listing, Spotify said that the lowest and highest price per share for recent private transactions has been between 90 dollars and 132.5 dollars.
Based on an average price of 111.25 dollars and 177 million outstanding ordinary shares, the company would be worth around 19 billion dollars.
For the year ended 31 December 2017, the company that was launched in 2008, generated 4.1 billion euros in revenues, while making a net loss of 1.2 billion euros.
The Swedish-based group, which is originally from Stockholm, is governed by Luxembourg law, while its financial statements are written in euros, the prospectus revealed.
The company has selected Goldman Sachs and Morgan Stanley as lead banks for its IPO.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
While not yet specifying the terms of the listing, Spotify said that the lowest and highest price per share for recent private transactions has been between 90 dollars and 132.5 dollars.
Based on an average price of 111.25 dollars and 177 million outstanding ordinary shares, the company would be worth around 19 billion dollars.
For the year ended 31 December 2017, the company that was launched in 2008, generated 4.1 billion euros in revenues, while making a net loss of 1.2 billion euros.
The Swedish-based group, which is originally from Stockholm, is governed by Luxembourg law, while its financial statements are written in euros, the prospectus revealed.
The company has selected Goldman Sachs and Morgan Stanley as lead banks for its IPO.
Copyright (c) 2018 CercleFinance.com. All rights reserved.