Saturday February 22, 2020

Direct hit: Spotify shares rise on unusual debut

The music streaming company skipped the traditional initial public offering process in favour of a route rarely taken by large, established companies

4th April, 2018
Spotify makes stock market debut. Pic: Getty

Spotify skipped the traditional initial public offering process in favour of a route rarely taken by large, established companies.

The stock rose 13 per cent to close at $149, compared with the $132 reference price set by the New York Stock Exchange well before the price discovery process started. While not an offer price, that was the threshold number set by the NYSE as the minimum...

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