April 3, 2018 / 4:50 PM / 8 months ago

Spotify shares open for trading at $165.90

NEW YORK, April 3 (Reuters) - Spotify shares began trading on the New York Stock Exchange on Tuesday with an opening price of $165.90 per share.

The streaming music leader has structured the stock market listing to allow existing investors to sell directly to the public while offering no shares of its own, in a test case being closely watched by other well-funded multibillion-dollar tech companies with no immediate cash-raising needs. (Reporting by Chuck Mikolajczak; editing by Jonathan Oatis)

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