How to list on NASDAQ? NASDAQ listing fees

1.More than 300 shareholders are required.

2.One of the following conditions is met:

1) Shareholders' equity (net assets of the company) is not less than 15 million US dollars, and the pre-tax operating income is not less than 1 million US dollars in at least one of the last 3 years.

2) Shareholders' equity (net assets of the company) is not less than 30 million US dollars. Not less than 2 years of business record.

3) The market value of the ** circulating on the NASDAQ is not less than 75 million US dollars, or the company's total assets and total revenue for the year are not less than 75 million US dollars.

3.The annual financial statements must be submitted to the Securities and Futures Commission and the shareholders of the company for reference.

4.A minimum of three market makers must be involved in the case. (Each registered market maker must have the ability to buy or sell more than 100 shares** at the normal bid and ask prices, and must return all traded prices and volumes to the National Trade Association (NASD) within 90 seconds of each trade).

Criterion 1: 1) Shareholders' equity of US$15 million;

2) Have pre-tax income of $1,000,000 in the most recent fiscal year or two of the last 3 years;

3) 1.1 million public floats;

4) the value of the public float amounted to US$8 million;

5) The purchase price per share is at least $5;

6) At least 400 shareholders holding more than 100 shares;

7) 3 market makers;

8) Corporate governance requirements must be met.

Criterion 2: 1) Shareholders' equity of US$30 million;

2) 1.1 million public shares;

3) the market value of the public float is US$18 million;

4) The purchase price per share is at least $5;

5) At least 400 shareholders holding more than 100 shares;

6) 3 market makers;

7) Two years of operating history;

8) Corporate governance requirements must be met.

Criterion 3: 1) The total market value is US$75 million; or $75 million in total assets and $75 million in gross earnings;

2) 1.1 million public float;

3) The market value of the public float is at least $20 million;

4) The purchase price per share is at least $5;

5) At least 400 shareholders holding more than 100 shares;

6) 4 market makers;

7) Corporate governance requirements must be met.

The NASDAQ listing fee includes two fees: the market fee and the annual fee.

Market expenses: According to previous listing cases, all expenses paid for listing account for 8 to 25 of the funds raised, and these expenses mainly include publicity fees, lawyer fees, audit fees, financial advisory fees, underwriter fees and direct market expenses. The amount of the listing fee depends on the size of the company, the method of fundraising and the amount of funds raised.

Generally speaking, the amount required is around $1 million. Therefore, if a company raises a large amount of funds from a public listing, the percentage of listing fees will be lower, while a company that raises less than $5 million may not be cost-effective.

Annual Fee: The NASDAQ annual fee consists of two parts: a basic fee and a variable fee. The base fee is based on the size of the actual issuance.

If the issue size is less than 1,000,000 shares, a minimum annual fee of $5,250 will be charged; More than 16 million shares are issued, subject to a maximum annual fee of $13,250. Floating fees are only applicable to issuers with a total market capitalization of more than US$100 million, and the excess is calculated as 0025 Charged.

The underwriting spread (commission) is the largest direct cost. For example, JPMorgan Chase's underwriting fees typically range from 3% to -5% of the amount raised, and smaller IPOs can average 7%-10%. Foreign lawyers' fees are expensive.

The amount of the fee depends on the complexity of the company and the regularity of the company's records. Accountant fees account for a large proportion. Independent accountants review and verify the data in the registration application and issue a letter of comfort.

The fees of independent accountants are not included in the audit fees for financial statements and the fees for testing and evaluation of internal control systems, and the audit fees of overseas accounting firms are determined according to the size of the company, the number of subsidiaries and the number of audit years. Core content: A listed company refers to the shares issued by the ** or *** authorized ** management department approved to be listed and traded on the ** exchange.