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SEC Is Studying Spotify’s Plan to Bypass IPO in NYSE Listing

  • Direct-listing plan is said to draw scrutiny from regulators
  • New York Stock Exchange rule-change proposal still pending
Bloomberg business news

Spotify executives have met with U.S. regulators scrutinizing the music company’s plan to skip a traditional share sale and list directly on the NYSE, according to people with knowledge of the matter. Bloomberg's Crayton Harrison reports on 'Bloomberg Daybreak: Australia.' (Source: Bloomberg)

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Spotify Ltd. executives have met with U.S. regulators scrutinizing the music company’s plan to skip a traditional share sale and list directly on the New York Stock Exchange, according to people with knowledge of the matter.

Senior Spotify executives met with U.S. Securities and Exchange Commission officials last month, said the people, who asked not to be identified discussing private meetings. Regulators asked for the meeting to get details on the plan by the world’s largest paid music streaming service to do an end-run around an initial public offering -- the conventional route to listing shares. The company has remained in touch with SEC officials since the meeting, the people said.

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