Spotify’s uncoventional plans to go public appear to be moving forward.

The music-streaming company filed SEC documents in December for a public offering, unnamed sources told Axios. The documents are still confidential, Axios reported Wednesday. Spotify declined to comment to CNBC.

Axios reported that the documents were for an IPO. But sources have told CNBC that Spotify will be a direct listing on the NYSE by the end of the first quarter of 2018, assisted by Morgan Stanley, Goldman Sachs, and Allen & Co.

A direct listing is slightly different than a traditional IPO. During an IPO, the company offers investors shares first, which allows underwriters to set an initial price. A direct listing allows investors to buy shares only through the open market, with no predetermined price.

Source: Tech CNBC
Spotify reportedly files to go public