What is DPO Direct Listing (DPO)?

Definition: Direct Publishing (DPO) is a way for a company’s stock to be publicly traded without an Investment Bank underwriting. The company trades its existing stock on the market through DPO Direct Listing without raising new funds before going public.

Features:

• No underwriters: Companies give up the safety net provided by underwriters, and the listing process is faster and cheaper.
• Market-driven: The opening price is determined by market demand, and there is no lock-up period after listing. Early investors can sell stocks at any time.

DPO vs IPO：

• DPO: No underwriters, streamlined listing process, lower fees, market-driven pricing.
• IPO: There are underwriters, the process is complex and costly, and the stock price and publishing process are managed by the underwriters.