Workplace collaboration software company Slack has made a direct listing on the NYSE.
An alternative to an IPO, Spotify also used a direct listing when it recently went public.
In direct listings, financial institutions don't underwrite the offering and instead of creating new shares, existing shareholders are given the opportunity to sell on the stock exchange.
Slack opened at $38.50 per share on its opening day, significantly higher than the NYSE's $26 reference price for the stock.