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Asharq Al-Awsat
Asharq Al-Awsat
Entertainment
Asharq Al-Awsat

France’s Spotify Rival Deezer Loses Ground on its Stock Market Debut

Jeronimo Folgueira, CEO of French music streaming platform Deezer, and Daniel Marhely, co-founder of Deezer, pose during the opening bell ceremony for the company's initial public offering (IPO) on the balcony of the Euronext stock exchange at La Defense business and financial district in Courbevoie near Paris, France, July 5, 2022. (Reuters)

Seven years after an aborted flotation, French music streaming platform Deezer failed to attract much investor interest for its Paris market debut and its shares fell 11% in early dealing on Tuesday.

Deezer opened at 8.50 euros, before heading down to 7.950 euros per share by 0739 GMT.

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