Spotify to Buy Back Up To $1 Billion in Stock
August 20 2021 - 6:24AM
Dow Jones News
By Colin Kellaher
Spotify Technology SA on Friday said its board approved the
repurchase of up to $1 billion in stock.
The Swedish streaming audio service, which currently has about
190.8 million shares outstanding, sports a market capitalization of
roughly $38.5 billion based on Thursday's closing price of
$205.08.
Spotify's shareholders had previously approved the repurchase of
up to 10 million shares.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
August 20, 2021 06:24 ET (10:24 GMT)
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