https://www.sec.gov/Archives/edgar/data/1639920/000119312518063434/d494294df1.htm Very unusual IPO: -no underwriters -all shareholders but 2 (Tencent and a subsidiary of Tencent) are allowed to sell from day one -Company did not consult with shareholders on whether they intend to sell or when -Company qualifies as a foreign issuer so they do not have to disclose and file as much info as a typical US security -On their risk factors they pretty much admit they are a slave to the music industry and studios can demand whatever they want from them. Its quite interesting the lenght in which they admit that (maybe they dont want to be sued in the future) -Company alerts several times about `volatility` on its IPO day as a risk factor Something smells about this one
spotify prob smells better than the storage one, though demand is said to be high demand was high for bitcon too at 20k
And there is more, company is NOT looking to raise funds through this IPO, just to provide liquidity to insiders. I have never seen something like this before but I'm not a big IPO follower