(Repeats story from late Friday, no changes to text)
* ASX says rejected IPO based on material in Guvera's application
* Guvera says reviewing its legal options
MELBOURNE, June 17 (Reuters) - Australia's stock exchange took on Friday the rare step of rejecting an initial public offering, telling loss-making music streaming company Guvera Ltd it would not accept its shares.
In a statement on Friday, ASX Ltd ASX.AX said it "exercised its discretion to refuse admission, based on material contained in Guvera's application for admission". It said the specific reasons for the refusal were confidential.
Guvera said in a statement it was reviewing its legal options and obligations and would offer more information to the market when it was more informed. It also said that the ASX has offered a meeting next week to discuss its decision.
The Australian music streamer, which competes with Apple Inc AAPL.O , Spotify Ltd and Pandora Media Inc P.N , said on June 1 that it planned to raise up to A$80 million ($59 million) in a listing to bankroll an ambitious expansion in developing markets. listing would have made Guvera the biggest Australian player in the global music streaming industry, which it said is forecast to grow revenue by more than 10 percent a year until at least 2019, and which has traditionally been dominated by U.S. heavyweights. (Writing by Byron Kaye; Editing by Sam Holmes and Muralikumar Anantharaman)