Nasdaq, NYSE Set to Ease Rules on Direct-Listing Capital Raises

Nasdaq Inc. won approval to expand the limits on capital raises in direct listings in an effort to encourage more companies to go public using them, with New York Stock Exchange soon to follow.

The US Securities and Exchange Commission approved Nasdaq’s request earlier this month and is expected to do the same for NYSE’s proposal, according to people familiar with the matter, who asked not to be identified discussing private information.

Representatives for NYSE and the SEC declined to comment.

“Once we see the new issue markets open, this will be much more topical in terms of being ...