Corporations interested in maximizing their access to public investment through trading their securities on public exchanges need to satisfy two sets of regulatory criteria: the reporting and registration requirements under SEC rules, and the listing standards maintained by the major stock exchanges themselves as self-regulatory organizations, principally NYSE/Amex and Nasdaq. The securities lawyers of Gottbetter & Partners, LLP, have helped many companies understand and meet the requirements for trading shares in these markets. To put our experience to work for you, contact us in New York City.
Although they differ in the particulars, NYSE/Amex and Nasdaq have broadly similar eligibility standards for obtaining a listing on their respective exchanges. G&P attorneys can review your company's history, management, capital objectives and recent financials and advise you about the best way to approach your application for listing on a major exchange.
Understanding the Qualifications for Trading on NYSE/Amex or Nasdaq
Nasdaq has a basic eligibility standard based on factors such as the number of outstanding shares, unaffiliated shareholders and market makers, together with minimum trading volume and bid price for an issuer's shares. Applicants that meet the basic criteria also need to qualify for listing under one of three additional sets of criteria based on earnings, cash flow or a combination of market capitalization and revenue.
Applicants for listing on NYSE/Amex can also qualify under different eligibility standards that allow companies of different sizes, capital structures and histories to pursue different routes toward listed status. Our attorneys can give you a specific idea of the best ways to demonstrate your company's eligibility under the NYSE criteria.
Nasdaq and especially NYSE stress sound corporate governance practices as an important consideration for determining applications for listing. G&P attorneys can let you know at an early point of our relationship whether any of your current practices will need to change, such as the addition of outside directors, the appointment of independent audit and compensation committees, or requiring shareholder approval for equity incentive plans.
Our experience with getting corporations listed on major exchanges can help your company develop and present a strong application to NYSE/Amex or Nasdaq as well as foreign exchanges in Toronto, Frankfort and London. Contact us in New York City to learn more about your options.
