Spotify filed to go public on the New York Stock Exchange,according to a person familiar with the matter, in thehighest-profile test yet of a technique that lets companies listshares without raising money through a traditional stockoffering.

With steady cash from more than 60 million paying subscribers,the world's largest paid music-streaming service doesn't need morefunding. Instead of an initial public offering, it's trying adirect listing, which essentially lets private stakeholders starttrading their shares on a public exchange. That avoids underwritingfees and restrictions on stock sales by current owners, and doesn'tdilute the holdings of executives and investors.

Spotify, which has been valued at about $15 billion, would bethe most prominent company by far to attempt a direct listing, amethod that until now has been used by small issuers and realestate investment trusts. It would also be a first for the New YorkStock Exchange, which has sought permission from the Securities andExchange Commission to change its rules for the occasion.

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