Spotify filed for an initial public offering and intends to apply to list its ordinary shares on the NYSE under the symbol "SPOT." The filing states: "Unlike an initial public offering, the resale by the Registered Shareholders is not being underwritten by any investment bank.

The Registered Shareholders may, or may not, elect to sell their ordinary shares covered by this prospectus, as and to the extent they may determine. Such sales, if any, will be made through brokerage transactions on the New York Stock Exchange at prevailing market prices...

No public market for our ordinary shares currently exists. However, our ordinary shares have a history of trading in private transactions.

Based on information available to us, the low and high sales price per ordinary share for such private transactions during the year ended December 31, 2017 was $37.50 and $125.00, respectively, and during the period from January 1, 2018 through February 22, 2018 was $90.00 and $132.50, respectively, in each case excluding the Tencent Transactions."