Spotify begins trading on the New York Stock Exchange amid Wall Street tech rout April 3, 2018 Music streaming service Spotify began trading on the New York Stock Exchange (NYSE) today at $165.90 (£117), a 34 per cent increase on the initial set reference price. The opening price puts the company’s value at nearly $30bn, making it one of the largest US listings for a tech company in history. The public listing [...]
Spotify float still set to top Snap and Twitter amid tech sell-off March 28, 2018 Spotify is expected to be worth $26bn (£17bn) at the end of its first day of trade next week, more than social media platforms Snap and Twitter, according to IG client accounts. IG’s grey market, which allows traders to speculate on the music streaming giant’s market capitalisation at the end of its first day of [...]
Spotify sets cautious revenue expectations as it prepares to go public March 26, 2018 Spotify’s revenue is projected to grow at a slower tempo this year, as the music streaming site readies for its public listing next week. The technology company said yesterday that it expects revenue to grow between 20 and 30 per cent to as much as €5.3bn (£4.6bn) in 2018, a rate slower than the 39 [...]
How and why rising trade tensions have moved stock markets March 23, 2018 We explain all of the ins and outs of the turmoil in markets this week, focusing on at what might happen next with escalating trade tensions. How far have stock markets fallen this week? Global stock markets have come under pressure this week on fears over escalating trade tensions. The selling has been most marked [...]
Britain’s fintech firms are expecting growth to rocket over the next three years March 21, 2018 UK fintech firms expect higher than average growth over the next few years as London remains a top destination for business. UK-based financial technology firms expect 88 per cent growth over the next three years, topping the average country's expectations, according to a global fintech survey by theLondon Stock Exchange Group and TheCityUK. Only Germany [...]
Full stream ahead: With Spotify opting for an unusual IPO route, should investors be wary? March 20, 2018 Spotify, the streaming giant that prides itself on helping people discover music, is about to go public. The company plans to list on the New York Stock Exchange on 2 April, but it’s doing things differently – opting for a direct listing instead. This means that, instead of issuing shares, the private investors and [...]
Michael Spencer’s Nex Group could attract attention from rival exchanges following confirmation of CME bid March 18, 2018 CME’s pursuit of Nex Group could be derailed by rival exchanges, analysts have said. The London exchange founded by City titan Michael Spencer could attract interest from rival exchanges around the world. Potential rivals could include the London Stock Exchange (LSE), Singapore Exchange (SGX), Frankfurt’s Deutsche Boerse and New York Stock Exchange owner Intercontinental Exchange [...]
That the Saudi Aramco IPO is in jeopardy should surprise no-one March 14, 2018 The red carpet has been rolled up to reveal a sizeable bump in the road. Just a week after the visit to Britain by Saudi Arabia’s Crown Prince Mohammad bin Salman, we’ve learned that the proposed flotation of Saudi Aramco – the world’s biggest oil company and perhaps largest company by market value – has [...]
The big winners from an Aramco listing will be the bankers March 13, 2018 Britain’s bankers and City advisors are very excited about the mooted flotation of Saudi Arabia’s state-owned oil company Aramco. The potential fees – and therefore bonuses – generated are likely to be astonishing. It will be trebles all round, as they say in Private Eye. However, as an investment proposition there may be less to [...]
Spotify direct listing on New York market to go ahead in April March 12, 2018 Spotify will go public on the New York Stock Exchange with a direct listing as early as next month, it has emerged. The music streaming service will hold an investor meeting later this week, ahead of a float which has now been scheduled for 2 April, Bloomberg reported. Its debut on the stock market will [...]