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IJNT - Bedingungen für NASDAQ-Listing - 500 Beiträge pro Seite


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Begriffe und/oder Benutzer

 

Hi Leute. Habe mir mal die Mühe gemacht, die Bedingungen für ein NASDAQ-Listing zu recherchieren: Ihr findet sie auch unter http://www.nasdaq.com/about/scm.stm

Grüße

Ymas
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The current amendments to The Nasdaq Stock Market listing requirements, which were approved by The U.S. Securities and Exchange Commission on August 22nd, 1997, further strengthen both the quantitative and qualitative requirements for issuers listing on Nasdaq®. For the first time, corporate governance requirements applicable to the Nasdaq National Market will extend to The Nasdaq SmallCap Market. These changes materially enhance the threshold criteria necessary to qualify for listing on The Nasdaq SmallCap Market.

Significant changes are highlighted below:

$1 Minimum Bid Price Required for Common and Preferred Stock
Common and preferred stock must have a minimum bid price of $1. The $1 bid price requirement provides a safeguard against certain market activity associated with low-priced securities, and also enhances the credibility of the market. Nasdaq is the only market that has a stated minimum bid price requirement.
Increase in the Quantitative Requirements
Increases to the quantitative requirements are detailed in the attached table. These increases will strengthen the financial criteria in a manner consistent with the goal of increasing the quality and stability of Nasdaq companies, while preserving the ability of qualified companies to raise capital.

Adoption of Peer Review Requirement
All independent auditors for Nasdaq-listed companies must be subject to practice monitoring under a program such as the AICPA SEC Practice Section peer review program. Such a program must provide that an accounting firm’s quality control system be peer reviewed every three years.

Adoption of Corporate Governance Requirements
A summary of the corporate governance requirements for companies listed on The Nasdaq SmallCap Market are presented below. Details regarding these requirements will be forth coming.

Distribution of annual and interim reports
A minimum of two independent directors
An audit committee, a majority of which are independent directors
An annual shareholder meeting
Quorum requirement
Solicitation of proxies
Review of conflicts of interest
Shareholder approval for certain corporate actions
Voting Rights
Nasdaq believes that the new requirements will further the protection of investors while enhancing the quality of The Nasdaq Stock Market. Companies failing to satisfy the new continued listing requirements will be allowed until February 23, 1998 to meet the new requirements. Companies should initiate appropriate corporate action necessary to achieve full compliance by February 23, 1998.


The Nasdaq SmallCap Market Requirements Requirements Initial Listing Continued Listing
Net Tangible Assets1

Market Capitalization

Net Income (in latest fiscal year or 2 of last 3 fiscal years) $4 million
or
$50 million
or
$750,000 $2 million
or
$35 million
or
$500,000
Public Float (shares)2 1 million 500,000
Market Value of Public Float $5 million $1 million
Minimum Bid Price $4 $1
Market Makers 3 2
Shareholders (round lot holders)3 300 300
Operating History4

Market Capitalization 1 year
or
$50 million N/A
Corporate Governance Yes Yes


1For initial or continued listing, a company must satisfy one of the following to be in compliance: the net tangible assets requirement, (net tangible assets means total assets, excluding goodwill, minus total liabilities) the market capitalization requirement or the net income requirement.
2Public float is defined as shares that are not held directly or indirectly by any officer or director of the issuer and by any other person who is the beneficial owner of more than 10 percent of the total shares outstanding.
3Round lot holders are considered holders of 100 shares or more.
4If operating history is less than 1 year, initial listing requires market capitalization of at least $50 million.
Gut!!! Das wird doch von IJNT gebracht! Also kommen die jetzt an NASDAQ! Und dann kaufen US-Fonds die Aktie und dann geht der Kurs steil nach oben!!! Also: Nachkaufen, solange die Aktie noch unter 10$ ist!!!


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