Direct Listings vs. Traditional IPO Comparison Chart

Summary

This chart compares key similarities and differences between a direct listing of equity securities as an initial public offering (IPO) and a traditional underwritten IPO. Use this chart to help you explain the costs and benefits of engaging in a direct listing to the board of a company that is contemplating going public. Primary offerings via a direct listing (referred to by exchanges as a "direct listing with capital raise") are very new and comparatively rare. Company boards should carefully weigh the pros and cons of engaging in one.