Powered by

Music streaming service Spotify has filed for $1bn New York float

Mar 01, 2018 - City A.M.

SPOTIFY, one of the most well-known music streaming services, finally filed for its initial public offering (IPO) last night.

The Sweden-based company is aiming to raise up to $1bn (£726m) through its much-anticipated float on the New York Stock Exchange.

According to Spotify, its shares have been trading at up to $132.50 apiece on private markets recently. This would currently value it at more than $23bn.

It has chosen to pursue an unconventional direct listing, meaning no ba...