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US approves NYSE listing plan to cut out Wall Street middlemen

The SEC's approval of the NYSE's listing plan threatens to overhaul the US IPO market

coronavirus, wall street, markets
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Reuters
Companies can raise capital on the New York Stock Exchange (NYSE) 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 US securities regulator said.
 
The SEC’s approval of the NYSE's listing plan threatens to overhaul the US IPO market, by allowing aspiring public firms to sell shares directly to investors.           

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First Published: Dec 24 2020 | 1:33 AM IST

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