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Slack files for direct listing on NYSE to sidestep typical IPO

Apr 26 2019 16:03
Olivia Zaleski and Ellen Huet, Bloomberg

Slack Technologies submitted its plans to US regulators to go public through an unusual direct listing.

The workplace-messaging company’s filing on Friday confirms its plans to avoid a traditional public offering and instead list its shares directly on the New York Stock Exchange under the symbol SK.

The direct listing will allow the San Francisco-based company’s investors to sell their shares without their holdings being diluted by Slack issuing new stock or waiting for a lock-up period to expire.

slack  |  ict  |  companies
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