Slack Direct Listing Reference Price Is Set at $26 by NYSE

The New York Stock Exchange set a reference price of $26 per share for trading in workplace messaging application Slack Technologies Inc.

The number is in line with the volume weighted average price at which the stock has been changing hands in the private markets. Slack said in a filing last month that number was $26.82 for May, a slight increase from $25.91 in April.

Slack is skipping the traditional route to go public -- through an initial public offering -- and instead choosing to trade shares directly on the exchange on Thursday. Though the unusual method means the company ...