Analysis

NYSE Rule Change Would Make It Easier To List Without IPO

Law360, New York (June 12, 2017, 4:05 PM EDT) -- Regulators are expected to take action this month on a New York Stock Exchange proposal to tweak its rules to make it easier for private companies to list without completing a traditional initial public offering, an unusual approach that attorneys say could appeal to certain cash-rich startups.

The U.S. Securities and Exchange Commission is scheduled to decide the matter by June 29, or begin proceedings and take more time. The NYSE proposal comes as streaming giant Spotify Inc. is reportedly considering a direct listing without a concurrent IPO, a sharp break from typical practice in which companies raise money along with listing their...

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