SEC Allows NYSE Cos. To Sell Shares In Direct Listings
By Tom Zanki (December 22, 2020, 8:25 PM EST) -- The U.S. Securities and Exchange Commission on Tuesday approved a New York Stock Exchange plan allowing companies that conduct direct listings to also sell new shares and raise capital, potentially making this alternative to an initial public offering attractive to more companies.
Tuesday's green light follows several months of deliberation after an investor group objected to a prior approval issued by SEC staff in August and requested the full commission review the matter.
The SEC, in an order posted on its website Tuesday, said it determined that the "NYSE has met its burden to show that the proposed rule change is...
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