The US Securities and Exchange Commission (SEC) has approved the New York Stock Exchange (NYSE) proposal to introduce a new type of share placement on the stock exchange, which allow companies to raise capital through direct listing, The Wall Street Journal reported.
The NYSE’s direct listing will enable companies to issue new shares and sell them directly to the public on the first day of trading. Thanks to this, companies will be able to raise funds, but not use the services of underwriters and, accordingly, not pay them commissions.
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