Silicon Valley techies are in love with an IPO alternative that minimizes bankers. Here's why Bank of America has become a fan too.

Bank of America has become a proponent of direct listings, an alternative to the traditional initial public offering process, some of its top tech bankers told Business Insider recently.A direct listing is a much more streamlined process than an IPO, and typically means lower fees for the banks involved.But interest in direct listings has been growing in Silicon Valley, and Bank of America thinks it can benefit by long-term by helping companies with them, the bankers said.Spotify and Slack are the only two prominent companies that have done a direct listing in the US, and some IPO experts think only similarly well-known companies can pull one off, but the bankers think the process could be used by a much broader range of startups.Click here for more BI Prime stories.You might think investment

from Business Insider India https://ift.tt/36jWRSX