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Spotify Plans New York Listing During Week of April 2

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Spotify IPO

Spotify Technology SA plans to list shares on the New York Stock Exchange the week of April 2, according to people with knowledge of the matter, giving the company weeks to prepare for an unconventional debut.

Spotify will deviate from decades of practice by not issuing any new shares or raising money in its initial public offering. Instead, existing stakeholders will offer their shares to investors, which is known as a direct listing. An active market for private stock sales over the past couple of years has helped the company establish a valuation higher than $20 billion, based on some of the transactions.