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)

Copyright (c) 2021 Dow Jones & Company, Inc.
Spotify Technology (NYSE:SPOT)
Gráfico Histórico do Ativo
De Out 2021 até Nov 2021 Click aqui para mais gráficos Spotify Technology.
Spotify Technology (NYSE:SPOT)
Gráfico Histórico do Ativo
De Nov 2020 até Nov 2021 Click aqui para mais gráficos Spotify Technology.