Spotify’s long-anticipated public listing on the New York Stock Exchange is reportedly inching closer. The streaming music market leader, now valued at $13 billion, is currently being advised by Morgan Stanley, Goldman Sachs, and Allen & Co on the process of placing a direct listing on the market, rather than filing a traditional IPO, Reuters reports. Spotify would be the first major tech company to list its stock this way. A direct public offering, or DPO, lets companies avoid some of the logistical and financial hurdles of a regular IPO by eschewing underwriters and raising funds directly. The listing is expected to happen at some point later this year.
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