Roblox's recent backers collect direct listing windfall

摘要

Direct listing advocates have touted the IPO alternative as a fairer and more democratic way to take a company public, yet online gaming platform ROBLOX still ended up handing windfall short-term gains to a very small group of big investors when it debuted using the format on the NYSE on Wednesday. Roblox shares rose 54% to US$69.50 versus their US$45.00 reference price in their debut session after the company went public without raising capital, holding a roadshow or requiring insiders not to sell their shares for six months.