Spotify files to list on NYSE

Spotify Technology SA filed Feb. 28 to list its shares on the New York Stock Exchange. The online streaming service said its offering could raise as much as $1 billion and that it plans to trade under the ticker “SPOT.” Spotify is pursuing a direct listing of its shares and no underwriters are listed in the S-1. The company’s founders own the largest stakes. CEO and Co-Founder Daniel Elk owns 25.7 percent of ordinary shares and 37.3 percent of total voting power. Martin Lorentzon, co-founder, holds 13.2 percent of ordinary shares and 43.1 percent total voting power.