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Nasdaq, NYSE Set to Ease Rules on Direct-Listing Capital Raises

  • SEC approved Nasdaq’s proposal; NYSE expected to follow
  • Revised rules could make direct listings more appealing
The Nasdaq MarketSite in New York.

The Nasdaq MarketSite in New York.

Photographer: Michael Nagle/Bloomberg

Nasdaq Inc. won approval to expand the limits on capital raises in direct listings in an effort to encourage more companies to go public using them, with New York Stock Exchange soon to follow.

The US Securities and Exchange Commission approved Nasdaq’s request earlier this month and is expected to do the same for NYSE’s proposal, according to people familiar with the matter, who asked not to be identified discussing private information.