4 thoughts on “How to go public in Nasdaq and what are the conditions?”
Cary
When listing in Nasdaq, the following three conditions and one principles are required: 1. The nature and development requirements of enterprises n Equipment), joining, manufacturing and retail chain services, such as the expiration of economic active periods for more than one year, and have high growth and high development potential. 2. The assets and income requirements of the enterprise The net asset value of more than 5 million yuan in US dollars, or the net profit before the recent year of taxes is more than 750,000 yuan, or the two years of taxes in the past three years Previous income is more than 750,000 yuan in the US dollar, or the company's capital market value (MARKET) is more than 50 million yuan in US dollars. 3, the requirements of the number of shareholders of corporate shareholders SEC and NASDR review passed, more than 300 public holdings need to be listed. The number of holders holding the shares needs to be above the entire shares, and the entire U.S. shares are 100 basics of basic circulation units. 4. Integrity principles The company applying for Nasdaq's listing must adhere to the principle of integrity. Extension information Nasdaq's development Nasdaq (Nasdaq) was named the National Securities Dealer Association automatic quotation system. It only came out in 1971. It organizes the national securities broker together through a computer network, and provides them with off -site transactions in a timely and accurate manner. This initially allowed investors to trade some newly -founded stocks with small capital, but after more than 20 years of development, the number of listed companies, the number of foreign companies listed, and the monthly transaction volume have exceeded the New York Securities Transaction Place. The Nasdaq Composite Index includes more than 4,600 stocks, which are mainly composed of hundreds of advanced technologies, telecommunications and biological companies in the United States, including Microsoft, Intel, the United States, and Yahoo. The company became synonymous with the "new economy" in the United States. Reference materials Source: Baidu Baike Nasdaq Reference Data Source: People's Daily-Dao-Jones Index and Nasdaq n
Listing needs to implement two different standard systems: Nasdaq nationwide and small capital markets; the shareholders' equity is required to reach 15 million. It two different standard systems of Nasdaq nationwide and small capital markets, respectively. In the Nasdaq market, market people can buy and sell stocks and sponsors. The city -made people must report to the National Securities and Development Association of the National Securities and Development Association within 90 seconds after the transaction. The shareholders' equity is 15 million US dollars; a fiscal year or two years in the past three years has a pre -tax income of $ 1 million; 1.1 million public shares; the value of public shares reached 8 million US dollars ; The purchase price per share is at least $ 5; at least 400 shareholders holding more than 100 shares; 3 as municipal merchants; they must meet corporate governance requirements. The expansion information: Nasdaq's relevant requirements: 1. The application materials are made by the main underwriter and the intermediary agencies, and then the main underwriter will be summarized and issued a recommendation letter. Finally After the main underwriter completes the kernel and submits the application materials to the CSRC for review. 2. The audit report of the accounting firm, the asset evaluation report of the evaluation agency, and the legal opinion issued by the lawyer will provide legal and professional basis for the relevant content of the prospectus. 3. One year after the establishment of the joint -stock company, if the local sessions of the Secretary for the Commissioner, if they are qualified, they can make formal declaration materials. Reference information Source: Baidu Baike Nasdaq
1. There are more than 300 shareholders. 2. One of the following conditions: (1) shareholders' equity (company net assets) is not less than 15 million US dollars. In the past three years, at least one year before tax operating income is not less than $ 1 million Essence (2) Shareholders' equity (company net assets) is not less than 30 million US dollars. No less than 2 years of business records. (3) The market value of stocks circulating in Nasdaq not less than 75 million US dollars, or the company's total assets and total revenue of not less than 75 million US dollars that year. 3. The annual financial statements must be submitted to the Securities Management Association and the company's shareholders. 4, at least three must be involved in the case (each registered case, a municipal merchant must have the ability to buy or sell more than 100 shares under the normal purchase price and selling price, and must be in the case of 100 shares, and must be in the All the transaction prices and transaction volume will be returned to the American Stock Exchange Association (NASD) in 90 seconds after the transaction. The expansion information
Nasdaq's delisting standards According to regulations, companies listed on Nasdaq must meet the following two standards, otherwise they will be delisted Essence (1) The company's net value of tangible assets must be more than 4 million US dollars, with 750,000 shares of circulating shares, a market value of 5 million US dollars, and the stock price is not less than 1 US dollars. City merchants; (2) The market value exceeds 50 million US dollars (or total assets and income reached 50 million US dollars), circulating stocks exceeded 1.1 million, and the market value of circulating stocks exceeded 15 million US dollars. There are 400 shareholders and 4 cities. Reference materials Source: Baidu Encyclopedia -Nasdaq Stock Exchange Plop by People's Network -Nasdaq's delisting standard
The full English English of the Nasdaq Securities Market is named of dealers Automated (NASDAQ), that is, the automatic quotation system of the National Stock Exchange Association. Stock trading market with stock trading is a trading method. The association is a self -disciplined management agency and registered at the US Securities and Exchange Commission. Almost all US securities brokers and dealers are its members. The Nasdaq Securities market, as the cradle of high -tech companies in the United States, played an extremely important role in the development of the US high -tech industry, and is also a powerful helper for the rapid development of the global knowledge economy. The Nasdaq market is no longer the second board market in the usual sense. Among the more than 5,500 companies listed on Nasdaq, there are about 2,000 high -tech companies. Among the online companies listed across the United States, except for a few listed on the New York Stock Exchange, all the rest were listed on Nasdaq; in this market, only 15.8%of the companies or computer -related companies, computers and telecommunications The market capital of the two areas accounts for about 2/3; among the five companies with the highest market value in the US capital market, Nasdaq occupies 3 Microsoft, Intel and Science. Listed on the New York Stock Exchange. Moreover, the number of foreign companies issued by the Nasdaq market has exceeded the sum of the New York Stock Exchange and the US Stock Exchange, becoming the main place for foreign companies to list in the United States. Therefore, Nasdaq is one of the most important securities markets in the world and is a symbol and symbol of high -tech companies. Nasdaq has two sections: National Market and Small Capital Markets established in 1992. The goal of Nasdaq at the beginning of its establishment was positioned in small and medium -sized enterprises, but it was only because the scale of listed companies became larger and larger with the changes in the times. Therefore, Nasdaq had to divide himself into a "motherboard market" and A "small and medium -sized enterprise market". In comparison, Nasdaq has its own characteristics: 1. The dual -track system implements two different standard systems: Nasdaq's national market and small capital markets, respectively. Usually, a large -scale company trades in the national market; smaller emerging companies traded in small capital markets because the marketing requirements for the market were not so high. However, there is no difference between the securities trading committee's supervision of the two markets. 2. The trading system Nasdaq has a strong strength in market technology. It uses an efficient "electronic trading system" (ECNS) to install a total of 500,000 computer terminals in the world, and to traders from all corners of the world , Fund managers and agents transmit a comprehensive quotation of more than 5,000 securities and the latest transaction information. However, these terminals cannot be used directly for securities transactions. If securities brokers and dealers outside the United States are going to trade, they generally need to obtain market information through computer terminals, and then use telephones to notify the national securities dealers' association member companies in the United States to conduct relevant transactions. Due to the use of computer -based trading systems, Nasdaq's management and operating costs are low and efficient, and at the same time, it also increases the market's openness, liquidity and effectiveness. 3. The city -owner Nasdaq has its own Market Maker. They are some independent stock dealers and bear the buying and selling of a certain stock for investors. This institutional arrangement is particularly important for those stocks with low market value and less transactions. These municipal merchants are members of NASD, which is consistent with VSE's sponsors. Each stock listed on Nasdaq must have at least two or more market merchants offer for their stock; some large -scale and more active trading stocks can often reach 40-45. On average, the number of non -American companies' stocks is about 11. Throughout the Nasdaq market, there are more than 500 markets of markets, of which 11 are active market people on the motherboard. These cities include the world's top investment banks such as Merrill Lynch, Goldman Sachs, and Solomon Brothers. Nasdaq is now increasingly trying to use this market -based system to enable the stocks of listed companies to be sold at the optimal price, while also protecting investors' interests. 4. The sponsorship system is in the Nasdaq market. The marketing people can buy and sell stocks and sponsor stocks. In other words, they can conduct research on the company that they serve as the city. And put forward recommendations. 5. The transaction report must report to the National Securities and Development Association authorities within 90 seconds after the transaction. The trading information of the number of buying and selling and the price forwarded to the computer terminals around the world. The information of these transaction reports is the basis for the audit of the National Securities and Development Association in the future. The company is mainly divided into limited liability companies and shares limited liability companies. Only stocks of shareholding limited liability companies can go to the market. The company's listing means that the company's stocks can be traded on the stock exchange. Only when specific conditions are met, can we apply for listing to the Securities and Futures Commission. Second, the total amount of the company's share capital is not less than RMB 50 million; third, the opening time is more than three years, and the last three years have been profitable. Those who are mainly sponsors are state -owned large and medium -sized enterprises, and they can be continuously calculated; fourth, the number of shareholders holding a face value of more than RMB 1,000 is not less than one thousand people, and the total number of shares issued by the company to the society will be publicly issued. Twenty -five or more; the total share capital of the company exceeds RMB 400 million, and its proportion of shares to the society is more than 15 %; fifth, the company has no major illegal acts in the past three years, and the financial accounting report has no false records; Sixth, other conditions stipulated by the State Council, such as the scope of production and operation, meet the national industrial policies, the proportion of net assets and intangible assets meets the regulations. Listing can expand the issuance of its shares and increase its capital, which is very essential for modern market economy. Do Jones borrowing, the average index of Do Jones's stock price, is the most influential and most widely used stock price index in the world. It takes part of the representative company stocks listed on the New York Stock Exchange as the target of the preparation. The average index; ② The average index of Dao Jones Transportation Industry with 20 well -known transportation companies shares; ③ The average index of Dao Jones Public Utilities with 6 famous public institutions shares; ④ The 65 companies involved in the above three stock prices of the above three stock prices are Dao Jones's stock price comprehensive average index of Dao Jones. Among the four Dow Jones stock price index, the average index of the Dodo Jones Industrial Stock Prices is the most famous. It has been widely reported by Volkswagen Media and cited as a representative of the Dow Jones Index. The Dow Jones Index was compiled and published by the US Newspaper Group -Do Jones Company and published on the Wall Street Journal under its subordinate. The first proclaimed in history · Jones Index was on July 3, 1884. At that time, the index sample included 11 stocks, one of the founders of Dao Jones, the first editor of the Wall Street Journal, Charles Henry Tao (Charles Henry Dow L851-1902). From October 1, 1928, its sample stocks have increased to 30 species and maintained to this day, but companies as sample stocks have been adjusted many times. The Dow Jones Index is an arithmetic average stock price index. Reference materials: China Xinhe Street Net
When listing in Nasdaq, the following three conditions and one principles are required:
1. The nature and development requirements of enterprises n Equipment), joining, manufacturing and retail chain services, such as the expiration of economic active periods for more than one year, and have high growth and high development potential.
2. The assets and income requirements of the enterprise
The net asset value of more than 5 million yuan in US dollars, or the net profit before the recent year of taxes is more than 750,000 yuan, or the two years of taxes in the past three years Previous income is more than 750,000 yuan in the US dollar, or the company's capital market value (MARKET) is more than 50 million yuan in US dollars.
3, the requirements of the number of shareholders of corporate shareholders
SEC and NASDR review passed, more than 300 public holdings need to be listed. The number of holders holding the shares needs to be above the entire shares, and the entire U.S. shares are 100 basics of basic circulation units.
4. Integrity principles
The company applying for Nasdaq's listing must adhere to the principle of integrity.
Extension information
Nasdaq's development
Nasdaq (Nasdaq) was named the National Securities Dealer Association automatic quotation system. It only came out in 1971. It organizes the national securities broker together through a computer network, and provides them with off -site transactions in a timely and accurate manner.
This initially allowed investors to trade some newly -founded stocks with small capital, but after more than 20 years of development, the number of listed companies, the number of foreign companies listed, and the monthly transaction volume have exceeded the New York Securities Transaction Place.
The Nasdaq Composite Index includes more than 4,600 stocks, which are mainly composed of hundreds of advanced technologies, telecommunications and biological companies in the United States, including Microsoft, Intel, the United States, and Yahoo. The company became synonymous with the "new economy" in the United States.
Reference materials Source: Baidu Baike Nasdaq
Reference Data Source: People's Daily-Dao-Jones Index and Nasdaq n
Listing needs to implement two different standard systems: Nasdaq nationwide and small capital markets; the shareholders' equity is required to reach 15 million.
It two different standard systems of Nasdaq nationwide and small capital markets, respectively. In the Nasdaq market, market people can buy and sell stocks and sponsors. The city -made people must report to the National Securities and Development Association of the National Securities and Development Association within 90 seconds after the transaction.
The shareholders' equity is 15 million US dollars; a fiscal year or two years in the past three years has a pre -tax income of $ 1 million; 1.1 million public shares; the value of public shares reached 8 million US dollars ; The purchase price per share is at least $ 5; at least 400 shareholders holding more than 100 shares; 3 as municipal merchants; they must meet corporate governance requirements.
The expansion information:
Nasdaq's relevant requirements:
1. The application materials are made by the main underwriter and the intermediary agencies, and then the main underwriter will be summarized and issued a recommendation letter. Finally After the main underwriter completes the kernel and submits the application materials to the CSRC for review.
2. The audit report of the accounting firm, the asset evaluation report of the evaluation agency, and the legal opinion issued by the lawyer will provide legal and professional basis for the relevant content of the prospectus.
3. One year after the establishment of the joint -stock company, if the local sessions of the Secretary for the Commissioner, if they are qualified, they can make formal declaration materials.
Reference information Source: Baidu Baike Nasdaq
1. There are more than 300 shareholders.
2. One of the following conditions:
(1) shareholders' equity (company net assets) is not less than 15 million US dollars. In the past three years, at least one year before tax operating income is not less than $ 1 million Essence
(2) Shareholders' equity (company net assets) is not less than 30 million US dollars. No less than 2 years of business records.
(3) The market value of stocks circulating in Nasdaq not less than 75 million US dollars, or the company's total assets and total revenue of not less than 75 million US dollars that year.
3. The annual financial statements must be submitted to the Securities Management Association and the company's shareholders.
4, at least three must be involved in the case (each registered case, a municipal merchant must have the ability to buy or sell more than 100 shares under the normal purchase price and selling price, and must be in the case of 100 shares, and must be in the All the transaction prices and transaction volume will be returned to the American Stock Exchange Association (NASD) in 90 seconds after the transaction.
The expansion information
Nasdaq's delisting standards
According to regulations, companies listed on Nasdaq must meet the following two standards, otherwise they will be delisted Essence
(1) The company's net value of tangible assets must be more than 4 million US dollars, with 750,000 shares of circulating shares, a market value of 5 million US dollars, and the stock price is not less than 1 US dollars. City merchants;
(2) The market value exceeds 50 million US dollars (or total assets and income reached 50 million US dollars), circulating stocks exceeded 1.1 million, and the market value of circulating stocks exceeded 15 million US dollars. There are 400 shareholders and 4 cities.
Reference materials Source: Baidu Encyclopedia -Nasdaq Stock Exchange
Plop by People's Network -Nasdaq's delisting standard
The full English English of the Nasdaq Securities Market is named of dealers Automated (NASDAQ), that is, the automatic quotation system of the National Stock Exchange Association. Stock trading market with stock trading is a trading method. The association is a self -disciplined management agency and registered at the US Securities and Exchange Commission. Almost all US securities brokers and dealers are its members. The Nasdaq Securities market, as the cradle of high -tech companies in the United States, played an extremely important role in the development of the US high -tech industry, and is also a powerful helper for the rapid development of the global knowledge economy. The Nasdaq market is no longer the second board market in the usual sense. Among the more than 5,500 companies listed on Nasdaq, there are about 2,000 high -tech companies. Among the online companies listed across the United States, except for a few listed on the New York Stock Exchange, all the rest were listed on Nasdaq; in this market, only 15.8%of the companies or computer -related companies, computers and telecommunications The market capital of the two areas accounts for about 2/3; among the five companies with the highest market value in the US capital market, Nasdaq occupies 3 Microsoft, Intel and Science. Listed on the New York Stock Exchange. Moreover, the number of foreign companies issued by the Nasdaq market has exceeded the sum of the New York Stock Exchange and the US Stock Exchange, becoming the main place for foreign companies to list in the United States. Therefore, Nasdaq is one of the most important securities markets in the world and is a symbol and symbol of high -tech companies. Nasdaq has two sections: National Market and Small Capital Markets established in 1992. The goal of Nasdaq at the beginning of its establishment was positioned in small and medium -sized enterprises, but it was only because the scale of listed companies became larger and larger with the changes in the times. Therefore, Nasdaq had to divide himself into a "motherboard market" and A "small and medium -sized enterprise market". In comparison, Nasdaq has its own characteristics: 1. The dual -track system implements two different standard systems: Nasdaq's national market and small capital markets, respectively. Usually, a large -scale company trades in the national market; smaller emerging companies traded in small capital markets because the marketing requirements for the market were not so high. However, there is no difference between the securities trading committee's supervision of the two markets. 2. The trading system Nasdaq has a strong strength in market technology. It uses an efficient "electronic trading system" (ECNS) to install a total of 500,000 computer terminals in the world, and to traders from all corners of the world , Fund managers and agents transmit a comprehensive quotation of more than 5,000 securities and the latest transaction information. However, these terminals cannot be used directly for securities transactions. If securities brokers and dealers outside the United States are going to trade, they generally need to obtain market information through computer terminals, and then use telephones to notify the national securities dealers' association member companies in the United States to conduct relevant transactions. Due to the use of computer -based trading systems, Nasdaq's management and operating costs are low and efficient, and at the same time, it also increases the market's openness, liquidity and effectiveness. 3. The city -owner Nasdaq has its own Market Maker. They are some independent stock dealers and bear the buying and selling of a certain stock for investors. This institutional arrangement is particularly important for those stocks with low market value and less transactions. These municipal merchants are members of NASD, which is consistent with VSE's sponsors. Each stock listed on Nasdaq must have at least two or more market merchants offer for their stock; some large -scale and more active trading stocks can often reach 40-45. On average, the number of non -American companies' stocks is about 11. Throughout the Nasdaq market, there are more than 500 markets of markets, of which 11 are active market people on the motherboard. These cities include the world's top investment banks such as Merrill Lynch, Goldman Sachs, and Solomon Brothers. Nasdaq is now increasingly trying to use this market -based system to enable the stocks of listed companies to be sold at the optimal price, while also protecting investors' interests. 4. The sponsorship system is in the Nasdaq market. The marketing people can buy and sell stocks and sponsor stocks. In other words, they can conduct research on the company that they serve as the city. And put forward recommendations. 5. The transaction report must report to the National Securities and Development Association authorities within 90 seconds after the transaction. The trading information of the number of buying and selling and the price forwarded to the computer terminals around the world. The information of these transaction reports is the basis for the audit of the National Securities and Development Association in the future. The company is mainly divided into limited liability companies and shares limited liability companies. Only stocks of shareholding limited liability companies can go to the market. The company's listing means that the company's stocks can be traded on the stock exchange. Only when specific conditions are met, can we apply for listing to the Securities and Futures Commission. Second, the total amount of the company's share capital is not less than RMB 50 million; third, the opening time is more than three years, and the last three years have been profitable. Those who are mainly sponsors are state -owned large and medium -sized enterprises, and they can be continuously calculated; fourth, the number of shareholders holding a face value of more than RMB 1,000 is not less than one thousand people, and the total number of shares issued by the company to the society will be publicly issued. Twenty -five or more; the total share capital of the company exceeds RMB 400 million, and its proportion of shares to the society is more than 15 %; fifth, the company has no major illegal acts in the past three years, and the financial accounting report has no false records; Sixth, other conditions stipulated by the State Council, such as the scope of production and operation, meet the national industrial policies, the proportion of net assets and intangible assets meets the regulations. Listing can expand the issuance of its shares and increase its capital, which is very essential for modern market economy. Do Jones borrowing, the average index of Do Jones's stock price, is the most influential and most widely used stock price index in the world. It takes part of the representative company stocks listed on the New York Stock Exchange as the target of the preparation. The average index; ② The average index of Dao Jones Transportation Industry with 20 well -known transportation companies shares; ③ The average index of Dao Jones Public Utilities with 6 famous public institutions shares; ④ The 65 companies involved in the above three stock prices of the above three stock prices are Dao Jones's stock price comprehensive average index of Dao Jones. Among the four Dow Jones stock price index, the average index of the Dodo Jones Industrial Stock Prices is the most famous. It has been widely reported by Volkswagen Media and cited as a representative of the Dow Jones Index. The Dow Jones Index was compiled and published by the US Newspaper Group -Do Jones Company and published on the Wall Street Journal under its subordinate. The first proclaimed in history · Jones Index was on July 3, 1884. At that time, the index sample included 11 stocks, one of the founders of Dao Jones, the first editor of the Wall Street Journal, Charles Henry Tao (Charles Henry Dow L851-1902). From October 1, 1928, its sample stocks have increased to 30 species and maintained to this day, but companies as sample stocks have been adjusted many times. The Dow Jones Index is an arithmetic average stock price index. Reference materials: China Xinhe Street Net