Deals
Slack Hustles to Avoid Day One Pop as Next Unicorn to List
- Avoiding volatility is a key goal in unusual direct listing
- Reference price set at $26 a share by New York Stock Exchange
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As 2019’s bumper crop of initial public offerings either languishes or wildly exceeds expectations, Slack Technologies Inc. is taking a route to the trading floor that it hopes will yield a much more boring outcome.
Following in the footsteps of music-streaming service Spotify Technology SA last year, the workplace messaging application is set to start trading on the New York Stock Exchange Thursday via a direct listing. It’s just the second large company to test the unusual method and will be closely watched by other potential candidates to see how successfully the company and its advisers pull it off.