Spotify reportedly to go public as direct listing on NYSE

In a direct listing, a company does not raise money by offering new shares for sale, but instead makes existing shares immediately available to the public, meaning employees and investors can buy and sell as they wish. That dispenses with the need for banks to market and sell the company’s shares. Spotify’s decision to side-step underwriters could be a hit to investment banks that rely on fees from marquee listings. – Pallavi Dewan/Lauren Hirsch/Liana Baker & Sophie Sassard, Reuters via VentureBeat http://onvb.co/zb2YkKD
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