Direct Listings: Experiment or New Paradigm?

Due to market structure and regulatory changes, the traditional capital-raising path for entrepreneurial companies has evolved.  For companies in certain sectors, the firm commitment IPO may no longer be the goal.  Successful direct listings have led many to consider this approach as an alternative.  But is it an alternative appropriate for a broad array of companies, or best-suited to tech unicorns?  Topics discussed:

• The basics of a direct listing,
• Legal requirements, timing, and costs compared to an IPO,
• The marketing process, market-making, and liquidity,
• The stock exchange rules, and
• Capital-raising in connection with a direct listing.

Guest Speakers

• Jeff Hoffmeister, Morgan Stanley
• Genevieve Kinney, Vice President, Morgan Stanley
• Ashley MacNeil, Morgan Stanley
• Carolyn Saacke, NYSE

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