NYSE’s Plan for New IPO Alternative Wins Green Light From SEC

Regulators have approved a proposal from the New York Stock Exchange to let companies raise capital through direct listings, a decision that creates a cheaper alternative to the traditional initial public offering. In an order posted online Wednesday, the Securities and Exchange Commission approved the plan for the NYSE to create a new type of direct listing, in which companies can issue new shares. Previously, companies had only been permitted to use the process for existing investors to sell shares….


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