Spotify's first day of trading will be April 3

Spotify's first day of trading will be April 3

Spotify will go public on April 3 as the world's largest streaming company lists on the New York Stock Exchange.

The music-streaming company announced the timing at an investor day Thursday, in a live-streamed hours-long event created to introduce the company to public market investors.

Ek made a direct pitch to retail investors during a public webcast that stood in place of a traditional closed-door "road show" typically used to woo institutional investors in initial public offerings (IPOs).

He also confirmed that Spotify will announce financial guidance for Q1 2018 on March 26, the week prior to trading.

The Stockholm-based company's stock will be available to investors via an unusual direct listing without traditional underwriters.

The news brings to a close mounting speculation on the flotation D-Day for Spotify, following the company's filing of a preparatory F-1 document with the US Securities and Exchange Commission last month.

"For us, going public has never been about the pomp or the circumstance of it all", Spotify's 35-year-old co-founder and CEO Daniel Ek told the investors.

Ek said he would not be ringing the bell or standing on the floor of the NY stock exchange giving interviews when Spotify's shares start trading.

Spotify, in a filing to USA regulators, said that it had a 42 percent share of the global market in streaming in revenue terms in 2016.

While Spotify has tried to guide investors in its listing prospectus by disclosing the value at which shares have changed hands in private transactions, the range is wide. But it lost $461 million previous year.

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