Music streaming site to go public in New York

The world's largest music streaming service Spotify says it plans to
go public on the New York Stock Exchange.

The company is believed to be valued at around $20 billion despite
losing around $1.5 billion last year.

Spotify says it won't be underwritten meaning that there will be no
set price to inform opening trades when they go public.

William Denselow reports from New York.


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