Nasdaq National Market — (Brocker’s exchange)
Companies listing on the NMS must have, among other things:
- A share price of $US5 or more ($US1 to continue);
- A market cap of $US75 million or more; or
- Net tangible assets of $US18 million or more; or
- Net tangible assets of $US6 million or more and pre-tax earnings in a fiscal year of $US1 million.
- Minimum shares in a public float of 1.1 million
- Market value of that public float $US8 million or more
- Over 400 shareholders
- Pay entry fees between $US34,000 and $US95,000, annual fees $US10,000 to $US50,000
Nasdaq SmallCap Market
Companies must have, among other things:
- A share price of $US4 or more, ($US1 to continue) and:
- A market cap of $US50 million; ($US35 million to continue), or
- Net tangible assets of $US4 million or more; or
- Net income in a fiscal year of $US750,000
- Minimum shares in public float of 1 million
- Market value of that public float $US5 million
- Over 300 shareholders
- Pay entry fees of $US5000 to $US10,000, annual fees $US4000 plus some variables
New Zealand’s New Capital Market
Companies must have:
- A total investment prior to listing of $600,000 to $1 million
- Be a shell company that performs a key transaction within 18 months, with a maximum value of $1 million
- Minimum share price of 50c or more
- Mimimum value of the IPO of $400,000 to $600,000
- Minimum 300 shareholders, all New Zealand residents
- Graduate to NZSE when shareholders decide or market capital reaches $10 million
- Pay entry fees of $4000, annual fees $2500