Deals
Surf Air’s Shares Assigned $20 Reference Price by NYSE
- Carrier going public via first big direct listing since 2021
- Surf Air merging with Southern Airways, begin trading Thursday
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Surf Air Mobility Inc. shares were issued a reference price of $20 by the New York Stock Exchange to guide investors when the stock starts trading Thursday in the first significant direct listing in almost two years.
Unlike a traditional initial public offering in which shares are sold at the offer price before trading begins, the reference price in a direct listing is merely an estimate of their value, providing a price for trading to begin.