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The proposed list can be interpreted as a sign that the music industry is getting back on track, as more and more listeners are listening to music via smartphone apps even though companies are fighting piracy. Spotify launched its own shares in April, structuring its listing to allow existing investors to sell directly to the public.
In a filing of the US Securities and Exchange Commission last year, Spotify and Tencent announced an exchange of shares. Indeed, according to Thomson Reuters IFR publication calculations in April, Spotify holds approximately 9% of Tencent Music, while Tencent holds a 7.5% stake in Spotify
an initial public offering worth $ 4 billion, valued at about $ 25 billion, IFR reported in April, citing people close to the plans
. ] Shafi Musaddique and NRC Reuters contributed to this article
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