A game changer? Reuters: US Approves NYSE listing plan to cut out Wall Street middlemen

 

WASHINGTON (Reuters) – Companies can raise capital on the New York Stock Exchange through direct listings, without losing gains if their stock pops or forking out hefty fees to Wall Street banks, which typically underwrite such capital raisings, the U.S. securities regulator said on Tuesday.

The Securities and Exchange Commission’s approval of the NYSE’s “direct” listing plan threatens to overhaul the U.S. initial public offering market, by allowing aspiring public companies to sell shares directly to investors.

Investment banks have for decades organized IPOs, marketed them to institutions and supported the stock via their trading desks.

www.reuters.com/article/us-usa-sec-nyse/u-s-approves-nyse-listing-plan-to-cut-out-wall-street-middlemen-idUSKBN28W2D4

380 views
READ  Reuters Calls It Like it Is: Individual Billionaires Rule America
READ  Reuters Calls It Like it Is: Individual Billionaires Rule America