Direct listing

Spotify Technology on New York Stock Exchange (SPOT): the deal on record

Spotify listed its existing ordinary shares on the New York Stock Exchange on 3 April 2018 through a direct listing, without underwriters and without selling new shares. Its prospectus registered the resale of up to 55,731,480 shares by existing shareholders and said the opening price would be set by buy and sell orders collected by the NYSE. Spotify received no proceeds from those sales.^1,2

Timeline

1. 23 March 2018Prospectus dated, registering resales by existing shareholders and expecting trading to begin on or about 3 April 2018.¹
2. 3 April 2018Spotify ordinary shares are listed for trading on the NYSE.²

Status now

Listed on the New York Stock Exchange.²

Sources

1. US Securities and Exchange Commission (EDGAR), Spotify Technology S.A. prospectus (Form 424B4) (3 April 2018)
2. Spotify Technology via SEC EDGAR, Spotify Technology S.A. Form 6-K, Exhibit 99.1 shareholder letter (2 May 2018)