Independent economist Du Meng: What are the conditions required for a U.S. stock market listing? Financial Street Telecom/Wall Street Nasdaq listing. U.S. stocks generally refer to the securities markets in the United States, including the New York Stock Exchange, Nasdaq, etc.

Independent economist Du Meng: What are the conditions for to be listed on the U.S. stock market ?

Financial Street Telecom/Wall Street Nasdaq Listed

US stocks generally refer to the securities markets in the United States, including New York Stock Exchange , Nasdaq and so on. Different from Hong Kong stocks or A shares , the opening time of US stocks is divided into summer time and winter time. Daylight saving time is adopted from the second Sunday in March to the first Saturday in November each year. During this period, the trading time is from 21:30 pm Beijing time to 4:00 am the next day; winter time is adopted from the beginning of November to the beginning of March. The trading time is from 22:30 pm Beijing time to 5:00 am the next day. Currently, many large Chinese companies have chosen to list in the United States, such as Alibaba , JD.com , Xunlei, Zhaopin , etc. In addition, the U.S. stock market also brings together companies of different sizes from different parts of the world. Therefore, it can be said to be the oldest, most open, and most successful market in the world, and has attracted a large number of investors. The U.S. stock market is so huge that investors may think that the listing conditions for U.S. stocks are very strict. In fact, although U.S. stock listings are quite different from A-share or Hong Kong stock listings, their focuses are different and it is difficult to generalize. This article will immediately introduce to you what strengths are required to be listed on U.S. stocks.

1. The composition of the U.S. securities market

(1) The national securities market mainly includes: New York Stock Exchange (NYSE), American Stock Exchange (AMEX), Nasdaq Stock Market (NASDAQ) and OTC Market;

(2) Regional securities markets include: Philadelphia Stock Exchange (PHSE), Pacific Stock Exchange (PASE), Cincinnati Stock Exchange (CISE), Midwest Stock Exchange (MWSE) and Chicago Options Trading So (CHICAGO BOARD OPTIONSEXCHANGE) and so on.

2. Characteristics of the national market

(1) New York Stock Exchange (NYSE): It has the characteristics of sound organizational structure, the most complete equipment, the most stringent management, and high listing standards. NYSE listed companies mainly include well-known large companies around the world, , China Telecom, and other companies are listed on this exchange.

(2) American Stock Exchange (AMEX): Mature and standardized operation, outstanding stock and derivative securities trading. AMEX US stock listing conditions are lower than those of New York Stock Exchange , but it also has a history of hundreds of years. Many traditional industries and foreign companies are listed here.

(3) Nasdaq Stock Exchange (NASDAQ): a complete electronic securities trading market , the world's second largest securities market. NASDAQ adopts the agency trading system of securities companies and is divided into national board and small board according to the size of listed companies. The companies targeted are mostly large and medium-sized companies with high growth potential, not just technology stocks .

(4) OTCBB: It is a market directly supervised by the Nasdaq stock market and has the same trading methods and methods as the Nasdaq stock market. OTCBB US stock listing requirements are relatively loose, and the time and cost of listing are relatively low. It mainly meets the listing financing needs of growing small and medium-sized enterprises.

3. The conditions for listing US stocks on the New York Stock Exchange (NYSE)

As a global securities trading place, the New York Stock Exchange also accepts foreign companies to be listed. The listing conditions for NYSE US stocks are more stringent than those for domestic companies in the United States, mainly including:

( 1) The number of stocks held by the public is not less than 2.5 million shares;

(2) The number of shareholders with more than 100 shares is not less than 5,000;

(3) Company financial standards (choose one of three):

(4 ) Multiple requirements for the company's management and operation;

(5) Other relevant factors, such as the relative stability of the industry to which the company belongs, the company's position in the industry, the market situation of the company's products, the company's prospects, the public's perception of Interest in company stocks, etc.

. Subsidiary listing standards:

The subsidiary's global assets are at least US$500 million, and the company has at least 12 months of operating history. The parent company must be a listed company with good performance and have a controlling interest in the subsidiary.

Stock issuance scale: shareholders’ equity shall not be less than 4 million U.S. dollars, the minimum share price shall not be less than 3 U.S. dollars per share, at least 1 million common shares will be issued, and the market value shall not be less than 3 million U.S. dollars.

. Company financial standards (choose one from two)

(1) Income standard: pre-tax income in the most recent year shall not be less than US$750,000.

(2) Total assets standard: net assets shall not be less than US$75 million, and total income in the last year shall not be less than US$75 million.

4. Stock Exchange (AMEX) US stock listing conditions

If a company wants to be listed on the American Stock Exchange , it must meet the following conditions:

(1) There must be at least 500,000 shares in the It is owned by the public on the market;

(2) has a market value of at least US$3,000,000;

(3) must have at least 800 shareholders (each shareholder must own more than 100 shares);

(4) last fiscal year Minimum pre-tax income required is $750,000.

5. Nasdaq (NASDAQ) U.S. stock listing conditions (just meet one of the criteria)

. Nasdaq Global Market (NGM) U.S. stock listing conditions

. Nasdaq Global Select Market (NGSM) U.S. stocks Listing conditions

, Nasdaq Capital Market (NCM) US stock listing conditions

Enterprises need to make full use of the international capital market, financing and listing are the best choices! Going public can expand channels, attract talents, and create hundreds of billions or trillions of enterprises!

The content posted by Financial Street Telecommunications is for the purpose of learning and communication only.

#五人INDEPENDENT ECONOMIST#Executive President of China Doctoral Association, President of Financial Street Telecommunications, President of CECU China Enterprise Capital Alliance, Du Meng, famous independent economist, economics He is known as one of China's four great financial geeks and a ghost town doctor. Member of the Peking University branch of the Kuomintang Revolutionary Committee. Representative works: "Currency", " Currency and Banking ", "Introduction to Investment Management", "Real Estate Development and Operation", "Ghost Town Theory", etc. He once presided over the daily operation and management of the group headquarters and listed companies, and managed and controlled tens of millions of square meters of development areas in the affiliated investment areas and branch companies. He has the working background of the main person in charge of domestic and foreign listed companies, and has experience in capital operations and real estate investment. He has developed dual work experience and is a representative figure of the academic and practical groups in the financial and real estate circles; he has served as corporate executives from different backgrounds such as military enterprises, state-owned enterprises, school enterprises, and listed groups.

China Doctoral Association Financial Street Telecommunications Henan

Wang Xinhua/Editor

Financial Street Telecommunications is the earliest portal in the financial sector invested and founded by entrepreneurs from the Chinese Doctoral Association. China's leading financial information and business information provider, pioneering the "real-time" model of financial information and business information, pushing important information in seconds, providing users with information, data, market trends, research and community services, 7*24 hours a day, all year round Intermittent

Business Finance International Perspective Focus on Financial Street Telecommunications

Financial Street Telecommunications Henan Wang Xinhua editor