Companies listed in the United States must meet the requirements of the Securities Regulatory Commission and the conditions of the American Stock Exchange.
Securities Regulatory Commission requirements: 1. Comply with my country’s laws, regulations and rules regarding overseas listing.
2. The purpose of financing is in compliance with national industrial policies, foreign investment utilization policies and national regulations on fixed asset investment projects.
3. The net assets should be no less than 400 million yuan, the after-tax profit in the past year should be no less than 60 million yuan, and there should be growth potential. Calculated based on a reasonable expected price-earnings ratio, the amount of financing should be no less than 50 million US dollars.
4. It has a standardized corporate governance structure and a relatively complete internal management system, and has a relatively stable senior management and a high management level.
5. Dividends and dividends after listing will have reliable sources of foreign exchange and comply with relevant national foreign exchange management regulations.
6. Other conditions specified by the China Securities Regulatory Commission.
American stock exchange conditions: 1. There must be at least 500,000 shares owned by the public on the market; 2. There must be at least 800 shareholders (each shareholder must own more than 100 shares); 3. The following conditions must be met
One of them: the total pre-tax operating profit for three years is not less than US$100 million, and the total pre-tax operating profit for two years is not less than US$25 million.
The revenue in 12 months is not less than US$100 million, the total operating cash inflow in three years is not less than US$100 million, the operating cash inflow in each of the two years is not less than US$25 million, and the market value of the tradable stock is not less than US$500 million.
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The market value of the tradable shares is no less than US$750 million, and the annual revenue is no less than US$75 million.
Advantages of expanded information listing: 1. Financing companies have a wide range of financing, from less than US$5 million to more than US$100 million.
Companies can use U.S.-listed shares instead of cash as "currency" to acquire other companies.
2. Companies with high stock liquidity can improve their reputation and trust by being listed on U.S. stock exchanges to attract institutional and retail investors from all over the world.
A centralized trading market structure, better liquidity, smaller spreads and lower volatility help create, protect and increase shareholder value.
3. Help strengthen investor relations. The American Stock Exchange provides each listed company with customized services related to enhancing shareholder value to help the company gain a higher reputation and attention in the capital market.
The trading mechanism is different from other markets in that the American Stock Exchange gives "special attention and support" that small and medium-sized enterprises need. The unique "order drive" and "specialized broker system" provide a good platform for stock trading of small and medium-sized enterprises.
platform.
During the listing process on a U.S. stock exchange, a company planning to go public selects a specialty broker.
The specialty broker has a fiduciary duty to create the best market for the company's stock, unlike Nasdaq market makers who may discard a listed company's stock at any time.
In addition, many of the specialty brokerage firms that operate on the U.S. stock exchanges also serve the New York Stock Exchange.
American stock exchanges help enhance the value of company management and shareholders by forming strategic partnerships with small and medium-sized public companies.
Small and medium-sized non-U.S. issuers encounter unique difficulties when establishing investor relationships, but our unique proprietary broker and exchange services help companies weather the storm.