Spotify’s shares ended up 12.9 per cent higher on its first day of trading on the New York Stock Exchange, on April 3, a smooth debut that could pave the way for other companies looking to go public without the aid of Wall Street underwriters. Photo: Bloomberg
Opinion
Opinion
The View
Spotify’s IPO was a success. Never mind that it’s a loss-making company
Stephen Vines says while most companies go to market to raise money, with its DIY listing on the New York Stock Exchange, Spotify is asking the market to be a loss funder. That’s far from unusual in hi-tech stock listings
Spotify’s shares ended up 12.9 per cent higher on its first day of trading on the New York Stock Exchange, on April 3, a smooth debut that could pave the way for other companies looking to go public without the aid of Wall Street underwriters. Photo: Bloomberg