SEC rejects NYSE's proposal on U.S. direct listings

Credit: REUTERS/Carlo Allegri

Dec 6 (Reuters) - The New York Stock Exchange (NYSE) said on Friday that the U.S. Securities and Exchange Commission (SEC) had rejected its proposal for a rule change that would allow U.S direct listings to raise new capital.

"We remain committed to evolving the direct listing product. This sort of action is not unusual in the filing process, and we will continue to work with the SEC on this initiative," a NYSE spokesman said in a statement.

An SEC spokeswoman did not immediately respond to a request for comment.

(Reporting by Greg Roumeliotis in New York Editing by Chizu Nomiyama)

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