Title

NYSE Issues New Proposal on Direct Listings
Client Alert

Created date

6/24/2020

On June 22nd, the New York Stock Exchange (NYSE) filed a proposed rule change with the Securities and Exchange Commission that would permit companies to raise capital in a direct listing. The latest iteration of the NYSE’s rule proposal is similar to its prior attempts to allow companies to raise funds in a direct listing, but it provides more detail around the auction mechanics and eliminates some of the previously proposed flexibility.