SINGAPORE (Mar 26): On April 3, giant music streaming firm Spotify Technology will list on the New York Stock Exchange. Don’t look for CEO Daniel Ek ringing the bell that morning from the narrow balcony overlooking the trading floor or patiently waiting for an hour before the trading of the IPO shares actually begins once the mass of buy and sell orders have been carefully matched. Spotify executives will not be handing out souvenir baseball caps on the floor of the exchange or uncorking champagne bottles as Wall Street underwriters help the stock spike upwards. Indeed, Spotify will not even be offering any new shares to investors. Only the shares of existing shareholders, who by the way will not be constrained by a traditional “lock-up” period, will trade on listing day.

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