Nasdaq Proposes Changes to Listing Rules for Small IPOs

According to a report by Jinse Finance, Nasdaq announced on September 3 local time that it has proposed amendments to its listing standards and is submitting the proposed rules to the U.S. Securities and Exchange Commission (SEC) for review. If approved, the changes will take effect immediately. The revised standards include: a minimum public float market value of $15 million (currently $5 million) for new companies listing on Nasdaq under the net income standard; expediting the suspension and delisting process for companies with listing deficiencies and a market value of listed securities below $5 million; and a minimum public offering fundraising requirement of $25 million for newly listed companies primarily operating in China. (Jiemian)