Spotify chooses NYSE listing

World November 20, 2017 07:18

- Music streaming service Spotify opts for an IPO on the New York Stock Exchange (NYSE).

The Swedish technology company thereby renounces a second listing in Stockholm. The business newspaper Dagens Industri (DI) reports this on the authority of sources that are familiar with the situation.

The stock market in Stockholm is owned by the US stock exchange company Nasdaq, which, according to DI, has long tried to spawn Spotify for a double listing. That this was not successful, would have to do with the chaos around the IPO of Facebook more than five years ago. Nasdaq systems did not match the overwhelming interest of investors.

The reputation of Nasdaq as a technology exchange has suffered a serious dent because of the problems surrounding the IPO of Facebook. For technology companies such as Twitter, Alibaba and Snap, this was also a reason to opt for NYSE, although that company charges higher tariffs.

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