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Spotify (grey market, IPO, full listing)


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We have a pretty big IPO expected on April 3rd for Spotify, and with IG you can speculate on Spotify’s market cap ahead of its IPO with our grey market, as well as trading or investing in the underlying stock once the listing is complete. This is a going to be a slightly different event to a normal IPO. As quoted 

 

"Spotify hasn’t applied for a traditional initial public offering, it has chosen to float via a direct listing. While the outcome for retail investors is largely the same – Spotify shares will be made available to buy and sell on the NYSE – there are some important differences between the two.

 

The biggest of these is that no new shares are being issued, so Spotify isn’t seeking to raise capital from the listing. Instead, existing shareholders will be able to sell their shares to the public for the first time. This means that Spotify doesn’t need to get a bank to underwrite its offering or undertake a lengthy roadshow, cutting down costs. It also means that existing shareholders’ positions aren’t diluted.

 

If the direct listing is successful, then it could convince other tech firms to follow suit. But choosing a direct listing over an IPO brings its own risks – most notably that the lack of a major bank acting as underwriter could bring additional volatility to Spotify’s shares in its early days on the markets."

 

If you have any questions about how the grey market works, or would like more info on Spotify, you can ask the Community here. 

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