14 percent of Swedes interested in buying shares in Spotify
According to a survey conducted on behalf of the Swedish online bank Nordnet, 14 percent of Swedes are interested in investing in Spotify when the company goes public on the New York Stock Exchange on April 3.
Spotify’s public listing in New York April 3 is one of the most noted listings of a Swedish company ever. The company’s entry on the stock exchange is conducted through a direct listing, which means that trading starts without the traditional share-price setting process on Tuesday afternoon.
“One of seven Swedes are interested in buying Spotify shares and the company has potential to become a new share favorite for Swedes in parity with H&M and Ericsson. I think there is both rational and emotional reasons behind the huge interest. Swedish private investors see great potential in the company’s strong growth and their capability in finding new revenue streams. At the same time, we are very proud of the fact that that the largest streaming service for music is Swedish and that might affect our willingness to invest. However, there is great uncertainty about the companys‘s development on the stock exchange during the first period of trading. Investors should prepare for a rollercoaster ride due to the combination of Spotify not being profitable yet and their decision to choose the unusual method of direct listing”, says Joakim Bornold, Savings Economist on Nordnet.
The survey was made through web panels by the market research company Syno International and is representative for the Swedish society when it comes to gender, age, region, income and education. It was conducted between March 22 and March 29 with 1 153 respondents in the age interval 18 years to 80 years.
For more information, please contact:
Joakim Bornold, Savings Economist Nordnet, +46 70 099 02 99
Nordnet is a bank for investments and savings with business in Sweden, Denmark, Finland and Norway. The idea behind Nordnet is to give customers control of their money, and the goal is to become the no. 1 choice for investments and savings in the Nordics. Visit us at www.nordnetab.com, www.nordnet.se, www.nordnet.no, www.nordnet.dk or www.nordnet.fi.