United States: Listing Rules & Flotation

A U.S. listing on Nasdaq or the NYSE can provide access to a second capital market while preserving access to the company’s home-country market. The access is real — but liquidity and credibility are earned inside that market, not granted by the listing.

The New York Stock Exchange and NYSE American have adopted new continued listing requirements establishing a 25-cent minimum trading price threshold that will trigger immediate suspension and delisting proceedings upon a single-day breach, with no cure period available. With the rules taking effect July 1, 2027, companies trading near this threshold face critical decisions about reverse stock splits...

The SEC has approved new NYSE and NYSE American listing rules establishing a $0.25 minimum trading price, effective July 1, 2027. A single closing price below this threshold triggers immediate trading suspension and delisting proceedings with no cure period. Companies trading at low share prices must act now during the transition period to implement reverse stock splits and establish monitoring procedures before this hard floor takes effect.

The landscape of initial public offerings has fundamentally transformed as private markets have matured into a viable alternative to traditional public listings. What factors are driving companies to delay or reconsider going public, and how has the availability of private capital reshaped the strategic calculus around IPOs?

The Texas Stock Exchange has begun trading securities through unlisted trading privileges, allowing companies' stocks to trade on the new exchange without any action or approval from the issuing companies themselves. This development raises questions about what this means for public companies whose securities are now trading on TXSE and how they should respond to stakeholders.

For two decades, the assumption within compliance departments was that a transaction monitoring system, once installed and tuned, would do its job in the background.

The SEC has proposed allowing public companies to file semiannual reports instead of quarterly reports, potentially reducing compliance costs and freeing up management time. Companies could elect to file one...

Jones Day is pleased to provide you with a brief update on developments in international capital markets in the United States and the European Union ("EU").

On April 15, 2026, The Nasdaq Stock Market LLC (Nasdaq) filed a proposed rule change (SR-NASDAQ-2026-033) with the U.S. Securities and Exchange Commission (the SEC) to increase initial listing requirements...