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ARTICLE · 08 SEPTEMBER 2025

Nasdaq Proposes Significant Changes To Initial And Continued Listing Standards

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Special Rules for China-Based Companies:Companies principally operating in China would now face a $25 million minimum initial public offering (IPO) proceeds threshold for new listings.

United StatesCorporate/Commercial Law
Richard Friedman
Richard Friedman
Michael Blane
Michael Blane
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On September 3, 2025, The Nasdaq Stock Market LLC (Nasdaq) announced proposed changes to its listing standards. According to Nasdaq, these proposed changes respond to the rising complexity and volatility in today's capital markets, especially in the context of emerging companies and cross-border listings.

Key Proposed Enhancements

  • Minimum Market Value of Publicly Held Shares: A new $15 million minimum public float is proposed for companies seeking to list under the net income standard.
  • Accelerated Suspension & Delisting Process: Companies falling below a $5 million market value of listed securities — while also failing other compliance criteria — will be subject to swifter suspension and delisting.

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