Deezer plans to enter the Paris Stock Exchange

Deezer plans to enter the Paris Stock Exchange

(AFP)

The French music streaming platform Deezer plans to take its first steps on the Paris Stock Exchange through a SPAC, the Wall Street Journal said on Friday.

Deezer, which has 16 million users and a catalog of 90 million songs and other audio products, is said to be in talks with the SPAC I2PO, in whose turn is the Pinault family, which controls the luxury group Kering ( Gucci, Yves Saint-Laurent).

Asked, Deezer had not responded at the time of publication.

A SPAC (Special Purpose Acquisition Company) is a company without commercial activity whose purpose is to raise funds by entering a stock exchange. SPACs serve as vehicles for simplified entry into another company’s market.

Created in 2007 and competitor of Spotify, Deezer indicates that it is available in 180 countries. Its valuation, for its IPO which could be announced in the coming days, was not indicated.

In 2015, Deezer had attempted an IPO before giving up at the last minute on the grounds of unfavorable “market conditions”.