Direct listings have become increasingly popular since Spotify’s 2018 exit, which allowed its employees immediate liquidity, removed preferred access from bankers and allowed for market-driven price discovery.

Companies, like Spotify, that opt to complete a direct listing are able to bypass the financial roadshow, thus avoiding some of Wall Street’s exorbitant fees.

If the amendment is approved—the NYSE is subject to the regulatory oversight of the SEC—companies going public on the NYSE will be permitted to raise capital through a direct listing.

On the backs of these exits, tech industry leaders have touted direct listings as the latest and greatest path to the public markets.

Gurley, who has expressed his discontent with bankers’ inability to adequately price IPOs, recently hosted a one-day conference focused on direct listings titled Direct Listings: A Simpler and Superior Alternative to the IPO. | To read full story, visit https://startuparound.com/read/1574789405.8466077/NYSE-proposes-big-change-to-direct-listings-–-TechCrunch?ref=audio_experience