A direct listing is a private company's initial public offering sold exclusively to institutional investors.

Name: A direct listing is a private company's initial public offering sold exclusively to institutional investors.
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A direct listing is a type of IPO where a private company goes public by directly listing on a stock exchange without raising capital through traditional underwriting. It is not exclusive to institutional investors and allows all investors to participate in the opening trade.

A Direct Listing Is a Private Company's Initial Public Offering