Spotify to begin listing shares the week of April 2 as global footprint grows

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.