November 26, 2019 / 2:42 PM / 10 days ago

NYSE to permit capital raise as part of a company's direct listing

NEW YORK, Nov 26 (Reuters) - The New York Stock Exchange (NYSE) said on Tuesday it had filed with the U.S. Securities and Exchange Commission to allow companies going public through a direct listing, instead of a traditional initial public offering, to raise capital.

“This represents the next step in the development of the direct listing, which the NYSE pioneered with Spotify in 2018 and Slack earlier this year,” a NYSE spokeswoman said in a statement. (Reporting by Joshua Franklin in New York)

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