Report: Goldman Sachs Sells $75 Million In Spotify Shares

Spotify: Preparing To List on NYSE?

Hedge fund giant GOLDMAN SACHS has reportedly sold more than $75 million worth of SPOTIFY shares over the past few WEEKS, representing less than half of their total investment, according to MUSIC BUSINESS WORLDWIDE, citing a SKY NEWS report. The sell-off was apparently "triggered by demand from other shareholders."

Three investors affiliated with the company – GLOBAL PRIVATE OPPORTUNITY PARTNERS II LP, GLOBAL PRIVATE OPPORTUNITY PARTNERS II OFFSHORE HOLDINGS LP, and ODM INVESTORS LP -- have collectively sold off more than 24,000 Spotify shares at a price of $3,100 each.

SPOTIFY stock is traded, bought and sold on a private market, though the streamer is reportedly eyeing an imminent direct listing on the NEW YORK STOCK EXCHANGE, rather than an IPO

A direct listing would let the company avoid underwriting fees from banks – and harsh interest rates agreed as part of a $1bn convertible debt package it took on last year.

SPOTIFY is currently believed to be valued in the region of $13bn.

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