Digital music company Believe planning Paris stock market listing

Credit: REUTERS/Yuriko Nakao

Digital music company Believe announced on Monday plans for a Paris stock market listing which it hoped would raise around 500 million euros ($608 million) to finance its expansion.

PARIS, May 10 (Reuters) - Digital music company Believe announced on Monday plans for a Paris stock market listing which it hoped would raise around 500 million euros ($608 million) to finance its expansion.

Believe's digital music brands include TuneCore, Believe Distribution Services, Nuclear Blast, Naïve, Groove Attack and AllPoints, which compete in a sector dominated by the likes of Spotify SPOT.N, Apple Music AAPL.O. and Amazon AMZN.O.

($1 = 0.8226 euros)

(Reporting by Sudip Kar-Gupta; Editing by Jan Harvey)

((sudip.kargupta@thomsonreuters.com; +33 1 49 49 53 84;))

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