Adjust the Bid Price for Companies Qualifying
Under National Market Maintenance
Standard 2: The Market Capitalization/Total
Assets and Total Revenue Listing Standard
Nasdaq has also proposed to change the minimum
bid price requirement from $5 to $3 for Nasdaq
National Market companies that qualify for
continued listing under Maintenance Standard 2, the
market capitalization/total assets and total revenue
listing standard. This change also became effective
pursuant to a pilot program that is scheduled to
expire on July 1, 2001, or at such earlier time that the
SEC grants permanent approval of the changes.
Listed companies relying on this Maintenance
Standard can therefore qualify for continued listing
under the $3 bid price requirement immediately.
Adopt a Seasoning Period for Applicants
That Rely on the Market Capitalization
Listing Standard for Initial Inclusion
Companies may qualify for listing on Nasdaq, in
part, based on their market capitalization. The
proposed rule changes will require companies that
are currently publicly traded on another market and
that apply for listing under this standard to meet the
minimum bid price and market capitalization
requirements for 90 days prior to applying to
Nasdaq. This requirement will ensure that companies
qualifying to list under the market capitalization
standard have demonstrated the ability to sustain
their market capitalization and bid price prior to
listing. This proposed change will be effective upon
the date of permanent approval by the SEC.
Exclude Extraordinary and Non-Recurring
Income Items
Nasdaq has proposed a rule change to clarify that
the calculation of income excludes extraordinary
and non-recurring items. This proposed change will
be effective upon the date of permanent approval by
the SEC.
If you have any questions relating to the pilot
program or the proposed rule changes, you may
call the Nasdaq Listing Qualifications
Department at 877.536.2737.
Excel - Greg
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