Spotify (SPOT) is launched on NYSE with a first price of $165.90.
The first minutes are marked with a high volume and a decrease in price.
The NYSE has set a reference price of $132 on Monday, based on previous deals between private investors, but ultimately the first price is determined by investor demand.
Shares traded steadily, albeit with a slight decrease from the first price.
The company reported revenue of nearly $5 billion in 2017, according to the initial prospectus, although there is still an operating loss of $461.3 million. for the year.
Spotify has 71 million subscribers and over 159 million active listeners by December 2017, positioning the service far ahead of its closest rival Apple Music with just 36 million subscribers.
Source: Bloomberg Pro Terminal
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