Posted by evalang on 05/10/2009 - 22:00
What if there were a market for unregistered private company stock? Barry E. Silbert, a former investment banker who specialized in financial restructurings, is trying to make that a reality with SecondMarket.
SecondMarket matches investors with shareholders to trade shares of private companies for a fee of 2 percent from each side. There are significant questions as to whether such a market can succeed without running afoul of the Securities and Exchange Commission requirements for trading unregistered securities, but it is an intriguing concept.
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