Electric aviation and regional air travel company Surf Air Mobility shares slumped 75 per cent below their reference price in a direct listing on Thursday.Unlike an initial public offering, in a direct listing shares are not sold in advance. Shareholders are allowed to sell shares directly to the public and net any proceeds from the sale.Surf Air Mobility had earlier this month pushed its listing date from July 11 to the week of July 24. The company had last year confidentially filed for a U.S.
Cryptocurrency exchange Coinbase Global and workplace communication software Slack Technologies also went public through direct listings. Slack was later bought by Salesforce.
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