NEW YORK/SAN FRANCISCO---Shares of Spotify Technology SA ended up 12.9 percent on their first day of trade on the New York Stock Exchange, a smooth debut that could pave the way for other companies looking to go public without the aid of Wall Street underwriters.
Spotify shares opened at $165.90, up nearly 26 percent from a reference price of $132 set by the NYSE late on Monday. The stock ended the session at $149.01, valuing the world’s largest streaming music service at $26.5 billion.
