US SEC approves Nasdaq proposal to allow IPO alternative to raise funds

In a filing https://bit.ly/3vc3jHV dated May 19, the SEC said Nasdaq's proposed rule change was consistent with the regulator's rules and regulations and could be beneficial to investors as an alternative to a traditional initial public offering. The move is a big breakthrough for the exchange operator that has been pushing for an alternative for companies to raise money.

NEW YORK: The U.S. Securities and Exchange Commission (SEC) has approved a proposal by exchange operator Nasdaq Inc to allow companies to raise capital through direct listings.

In a filing https://bit.ly/3vc3jHV dated May 19, the SEC said Nasdaq's proposed rule change was consistent with the regulator's rules and regulations and could be beneficial to investors as an alternative to a traditional initial public offering.