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SEC approves NYSE plan to allow companies to raise cash through direct listings

The SEC has approved the New York Stock Exchange’s new type of direct listing that would allow companies to issue new shares and sell them directly to the public on the first day of trading. This would allow companies to raise money on the NYSE without paying big underwriting fees to Wall Street banks. NYSE president Stacey Cunningham joins ‘Closing Bell’ to discuss.
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Tue, Dec 22 20203:46 PM EST