Listing Requirements
The NASDAQ exchange consists of three market components: NASDAQ Global Select, a list of blue chip companies that meet its highest listing requirements; NASDAQ Global Market; and NASDAQ Capital Market, a group of smaller, less capitalized companies. As with the New York Stock Exchange, issuers must meet specific minimum standards to be listed on any of NASDAQ’s market tiers. Key initial listing requirements for the three tiers include the financial criteria below.
|
Requirements |
Global Select |
Global Market |
Capital Market |
|
Initial Fee |
$125– $225,000 |
$125– $225,000 |
$50– $75,000 |
|
Board Lot Shareholders |
450 |
400 |
300 |
|
Publicly Held Shares |
1,250,000 |
1,100,000 |
1,000,000 |
|
Market Capitalization |
$850,000,000 |
$75,000,000 |
$50,000,000 |
|
Minimum Share Price |
$4 |
$4 |
$4 |
|
Market Value of Publicly Held Shares |
$45,000,000 |
$20,000,000 |
$15,000,000 |
|
No. of Market Makers |
4 |
3 |
3 |
|
Shareholders’ Equity (Book Value of the Company) |
$55,000,000 |
$30,000,000 |
$5,000,000 |
Issuers must maintain the