Spotify CEO Daniel Ek on the company's investor day. Photo by Ilya S. Savenok/Getty Images.

Spotify shares are indicated to begin trading at between $145 and $155 per share, according to Reuters. This would give the company an initial market cap of between $25.8 billion and $27.6 billion.

  • Update: Reuters has now raised the range to $150-$160 per share.

Why it matters: This is higher than the NYSE reference price of $132 per share, which also was near the highest that Spotify shares had traded on private secondary exchanges through March 14. It also could be rich enough that several "on-the-fence" sellers will jump.

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