Palantir’s and Asana’s Dueling IPOs to Test Direct-Listing Process, NYSE

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Palantir’s and Asana’s Dueling IPOs to Test Direct-Listing Process, NYSE

Data firm Palantir Technologies Inc. and software company Asana Inc. are both poised to launch their direct listings Wednesday on the New York Stock Exchange, the biggest test yet for this still largely untested model for initial public offerings.

Only two companies of note—Spotify Technology SA and Slack Technologies Inc.—had ever completed direct listings before Wednesday.

Among…

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