Slack reference price set at $26 for non-IPO

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Slack reference price set at $26 for non-IPO
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Slack Technologies Inc. shares will have a reference price of $26, and are expected to begin trading Thursday morning on the exchange. Slack is listing its...

Slack Technologies Inc.

shares will have a reference price of $26, and are expected to begin trading Thursday morning on the exchange. Slack is listing its shares directly instead of performing an initial public offering, in which shares are priced for sale. Instead, a reference price is set for a direct listing, based on private placements and other factors, but the trading price can still be different. For example, when Spotify Technology SA SPOT, +1.

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Slack's stock will soon start trading. Here's what you need to know about the non-IPOSlack's stock will soon start trading. Here's what you need to know about the non-IPOSlack shares are set to start trading Thursday on the New York Stock Exchange. But don't call it an IPO. The messaging tool, popular with big businesses, is not going public through a traditional route.
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