Deals
Morgan Stanley, Goldman Make Their Own Direct-Listing Pitches
- Investors tout the alternative as a way to avoid IPO pitfalls
- Venture capitalists feel ‘shortchanged’ by Wall Street banks
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Silicon Valley investors are touting direct listings to startups as a way to sidestep Wall Street banks and the IPO process. The biggest investment banks want to make sure they stay in the mix.
Morgan Stanley is organizing an event about direct listings on Oct. 21 in San Francisco, according to people with knowledge of the program. It will take place at the West Coast outpost of the New York Stock Exchange, the people said, asking not to be identified because the information hasn’t been made public. Goldman Sachs Group Inc. held a session on direct listings during its Private Innovative Company Conference in Las Vegas Thursday.