Axios Pro Rata: NYSE's new direction — Turkey talk — Silver Lake scores
Top of the Morning | Wednesday, November 27, 2019 View in browser Presented By Standard Industries Pro Rata By Dan Primack · Nov 27, 2019 🦃 Publishing note: No issues tomorrow or Friday. Have a delicious Thanksgiving break, and we'll chat again on Monday morning. Top of the Morning Illustration: Lazaro Gamio/Axios The New York Stock Exchange yesterday laid the formal groundwork for letting companies raise capital as part of direct listings. This could upend the traditional IPO market, which has relied on Wall Street banks to set pricing terms. Background: We first discussed the possibility of hybrid listings back in June , in preparation of Slack's direct listing (through which the company itself raised no money). Three months later we broke news on how a group of Silicon Valle...