Spotify price tag rises ahead of filing for NYSE listing - sources
The value of music streaming service Spotify, which is planning a stock market listing, has grown around 20 percent to at least $19 billion in the past few months, outperforming U.S. and European tech indexes, sources familiar with the matter said.
The most recent private trades in the Swedish company have taken place at above $4,000 per share according to sources.
One of the sources said the recent trades were at a record-high of $4,200, valuing the firm at $19 billion or more. That compares to around $16 billion earlier this autumn.
Spotify is aiming to file its intention to float with U.S. regulators towards the end of this year, sources said.
Also supporting perceptions of Spotify`s increasing value, Tencent`s purchase of new Spotify shares implies a valuation of $5,000 per share, one of the sources said.
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)
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