Slack files for direct listing on NYSE to sidestep typical IPO

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.

ZAR/USD
17.44
(+0.16)
ZAR/GBP
22.74
(+0.41)
ZAR/EUR
20.57
(-0.18)
ZAR/AUD
12.50
(-0.01)
ZAR/JPY
0.16
(+0.59)
Gold
1914.72
(+0.48)
Silver
25.45
(+2.51)
Platinum
928.99
(+0.92)
Brent Crude
44.46
(-1.09)
Palladium
2134.99
(+2.60)
All Share
57417.28
(+0.44)
Top 40
53126.54
(+0.56)
Financial 15
10139.85
(-0.74)
Industrial 25
76210.18
(+0.91)
Resource 10
58992.57
(+0.54)
All JSE data delayed by at least 15 minutes morningstar logo
Company Snapshot
Voting Booth
Do you think it was a good idea for the government to approach the IMF for a $4.3 billion loan to fight Covid-19?
Please select an option Oops! Something went wrong, please try again later.
Results
Yes. We need the money.
11% - 976 votes
It depends on how the funds are used.
74% - 6475 votes
No. We should have gotten the loan elsewhere.
15% - 1343 votes
Vote