In 2018, Spotify was the first company to do a direct listing instead of a regular hashtagIPO process – foregoing the usual bookbuilding process in favor of opening the shares directly on the market in an auction. In 2021, Wise also chose to do a direct listing in London, and we recently hosted Matt Briers to recount their story.
Dakin Campbell, CFA is the author of Going Public, where he recounts the history and the inside stories of some of the major IPOs in recent memory, starting with the 1956 IPO of Ford, and focusing on the innovations that have occurred through time. With Dakin, we discuss what led Spotify and others to prefer a direct listing transaction, and some of the pros and cons of a direct listing vs. a traditional IPO.
🎧 Listen here: Spotify | Apple Podcasts 🎧
Disclaimer: this discussion is not financial advice, nor an investment recommendation, nor a solicitation to buy or sell any financial instruments, or an offer for financial services or any other transaction. The information contained in the recording have no contractual value and are destined for an informational purpose only. Amundsen Investment Management and the participants on this podcast may have holdings in the companies being discussed.
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