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Slack Opts for Direct Listing

Slack's value tops $19 billion in trading debut after the company shunned the IPO route.

By Ellen Huet | June 20, 2019 at 02:08 PM

A parade of initial public offerings (IPOs) from Silicon Valley this year has garnered a mixed reception from investors. Slack Technologies Inc. took a different route on Thursday, and saw its shares soar as it went public without an IPO.

Slack opened at $38.50 on the New York Stock Exchange Thursday, well above the reference price of $26 that was set for the shares in the direct listing. The stock closed at $38.62, giving the company a market value of $19.5 billion.

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