What Companies Should Know About Direct Listings

Law360 (February 26, 2020, 5:35 PM EST) -- With the wildly successful exits for shareholders at Spotify Technology SA and Slack Technologies Inc. via direct listings on the New York Stock Exchange, and with Asana Inc.’s direct listing now in process, stakeholders of late-stage companies need to ask themselves: Would a direct listing provide a better exit for your company than a traditional initial public offering?

Following is a summary of how a direct listing works, and why more companies are thinking beyond the conventional IPO to consider this method of going public.

What is a direct listing?

In a direct listing, a company’s existing and outstanding shares are...

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