Here comes Spotify…

AP Photo/Richard Drew

A Spotify banner adorns the facade of the New York Stock Exchange, Tuesday, April 3, 2018. Spotify, the No. 1 music streaming service which has drawn comparisons to Netflix, is about to find out how it plays on the stock market in an unusual IPO.

• Spotify is going public in an unusual 'direct listing' Tuesday.
• The stock is expected to begin trading after noon, and could swing wildly.
• You can track the stock's first trading prices in real-time here

Spotify will trade publicly for the first time Tuesday on the New York Stock Exchange via an unusual move known as a direct listing, instead of the usual initial public offering, or IPO.

The stock is indicated to open between $160 and $165 - roughly 18% above the $132 reference price set on Monday. Actual trading prices could vary widely for the Swedish streaming behemoth, depending on the buy and sell orders collected by the stock exchange from broker-dealers.

This "novel method" for going public is the stock trading equivalent of opening a store and hoping people will just stop in. It also means Spotify will list on the NYSE without underwriters, without a set price, without a set level of supply of shares, and without a lock-up on existing investors.

Shares will likely begin trading in the afternoon under the ticker SPOT, NYSE President Tom Farley said Tuesday.

"Normally, companies ring bells. Normally, companies spend their day doing interviews on the trading floor touting why their stock is a good investment. Normally, companies don't pursue a direct listing," CEO Daniel Ek said Monday of his company's unusual move.

"While I appreciate that this path makes sense for most, Spotify has never been a normal kind of company. As I mentioned during our Investor Day, our focus isn't on the initial splash. Instead, we will be working on trying to build, plan, and imagine for the long term."

This post will be updated when Spotify begins trading.

Check out Business Insider's full slate of coverage surrounding Spotify's unusual public offering:

• The New York stock exchange just got Spotify's country of origin all mixed up - by raising the Swiss flag
• Goldman Sachs' COO reportedly used his side gig as an EDM DJ to help win Spotify's business
• Spotify investor Lakestar won't be selling its shares - and thinks it should be a $100 billion company
• 'There's going to be a lot of interest in the stock': Here's one way to play the Spotify direct listing
• Spotify's using a 'novel method' to go public, and it means the stock price could 'decline significantly and rapidly'
• Spotify is going public at a terrible time for tech stocks - but this chart should get investors excited
• A long wait, and then wild market swings: What to expect when Spotify goes public
• RBC: Here's why Spotify is dominating the streaming-music industry
• Taylor Swift just picked Spotify to host her exclusive music video - on the same day Apple Music launched videos
• SPOTIFY: We expect revenue to grow 20 to 30% this year
• Spotify reveals that 2 million free users were dodging advertisements by using ad-blocking apps