Spotify debuts with a bang on the New York Stock Exchange. Through a direct listing, which does not involve the management of the sale of shares by banks, the Swedish group number one in music streaming has started trading at 165,9 dollars, up 26% on the reference price set by the NYSE.
Thus, the company has a valuation of 29,5 billion dollars, compared to 23,5 billion in the latest valuations in recent days which set the price at 134 dollars a share.
However, as the hours went by, the shares of the music streaming giant began to retreat, closing the April 3 session up 12,89% at $149,01. A price that is down in comparison with the one expected shortly before the debut, equal to 167 dollars.
