Not even remotely - they made out better on this than other recent IPOs. They are paying 35 - 40 euros or ~$45 million at the midpoint. If they float $1 billi

Not even remotely - they made out better on this than other recent IPOs. They are paying 35 - 40 euros or ~$45 million at the midpoint. If they float $1 billion in shares today, that means fees are 4.5% of the overall “offering”, or almost exactly what Dropbox paid. https://www.bloomberg.com/news/articles/2018-03-26/spotify-listing-disrupts-the-ipo-but-keeps-the-costs https://www.bloomberg.com/news/articles/2018-03-26/spotify-l...