NYSE Plans for Direct Listings That Offer Capital-Raising Option
A trader works on the floor of the NYSE.
Photographer: Michael Nagle/BloombergThis article is for subscribers only.
The New York Stock Exchange will let companies raise capital through a primary share sale alongside direct listings.
The proposal would enable a company that chooses a direct listing to also raise capital in an opening auction on the first day of trading, provided it sells a minimum of $250 million in market value of shares, NYSE said Tuesday in a filing with the U.S. Securities and Exchange Commission.