Why Direct Listings Will Overtake IPOs
Forbes Indonesia|February 2020
There is a major misconception that the only one way to go public is through an exchange. However, about a year ago, Spotify became the first technology company in the world to undergo a direct listing (DL).
GITTA AMELIA
 Why Direct Listings Will Overtake IPOs

On its first day of trading, shares in Spotify Technology SA jumped 12.9%. Following Spotify’s success, Slack followed closely behind and listed directly on the NYSE as well. Both the Indonesian and Singapore stock exchanges contain a framework for DLs, but it is a wonder why bankers rarely tap them. Further diligence leads me to conclude that, counter-intuitively, because DLs are more efficient and transparent, bankers are disinclined to promote them as they can lose out on potentially billable fees.

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