Spotify’s direct listing is nearing its next stage, with sources reporting that it plans to list shares on the New York Stock Exchange the week of April 2. That leaves a few weeks for the streaming music company to prepare for the non-traditional approach to going public. The business is hosting an investor day on March 15 to promote its potential.
With a standard public listing, banks help to manage the price range for a company’s entry into the stock market. In Spotify’s choice for a direct listing, investment banks and other intermediaries won’t be involved. The path involves a different set of risks than an IPO, but at a lower cost to the business and its investors.
Part of Spotify’s strategy as laid out in a listing document is international expansion. This week, the company has launched in three more countries: South Africa, Israel, and Vietnam. The new additions mean Spotify is now available in 64 countries around the world.