June 2, 2017 / 9:21 AM / 4 months ago

Spotify stock listing could be within a year -source

STOCKHOLM, June 2 (Reuters) - Spotify said on Friday it has no immediate plans for a stock market listing, although a source familiar with the matter told Reuters the music streaming service could still be floated within a year.

Reuters reported last month that Spotify will be the first major company to carry out a direct listing on the New York Stock Exchange later this year or early next year.

Spotify co-founder Martin Lorentzon told Swedish radio on Friday there were no plans for a listing, but the source told Reuters that “the implication is that it would be within 12 months from now”.

In a statement on Friday, Spotify said a stock market listing was still an option, but it had not “confirmed any definitive plans to go public”.

Lorentzon told Swedish Radio Ekot the firm had not “gotten anywhere and there is nothing planned regarding that”.

Spotify, which most recently was valued at $13 billion, lost 173 million euros ($194 million) in 2015, according to the latest figures disclosed by its Luxembourg-based holding company. ($1 = 0.8912 euros) (Reporting by Helena Soderpalm and Olof Swahnberg; editing by Alexander Smith)

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below