Tuesday, May 30, 2017

NYSE Seeks Rules Change To Make Spotify Direct Sale Possible

NYSE logoTo make way for a possible Spotify direct stock listing, the New York Stock Exchange has appealed to the U.S. Securities and Exchange Commission for a rules change.

________________________________________

Spotify new

If, as has been widely reported, Spotify does opt for a direct stock sale, it will save millions in IPO costs, as well as make it easier for investors - including the major labels - to cash out quicker.

But first the New York Stock Exchange needs to make a few rule changes, according to the Wall Street Journal.  

Hoping to attract high profile Spotify, the NYSE has appealed to U.S. Securities and Exchange Commission for a rules change that would make a direct listing easier and eliminate a “significant competitive disadvantage” for the NYSE.

A ruling is expected by June 29th.



from hypebot http://ift.tt/2rQZyKF

No comments:

Post a Comment