纳斯达克IPO必知！

Core Viewpoint - Nasdaq serves as a significant platform for companies, particularly small and emerging enterprises, to raise capital and enhance visibility through public listings, with a structured tier system that accommodates varying company sizes and financial conditions [2][3]. Group 1: Nasdaq Market Structure - Nasdaq consists of three market tiers: Nasdaq Global Select Market, Nasdaq Global Market, and Nasdaq Capital Market, with a "reverse triangle" structure in the number of listed companies [2][3]. - The Nasdaq Capital Market is designed for small and emerging companies, featuring more lenient listing standards focused on revenue, market capitalization, and cash flow [2][3]. Group 2: Listing Conditions - Companies can qualify for listing under various conditions, including profitability, cash flow, or asset and market value criteria [5][8]. - Specific conditions for Nasdaq Capital Market include revenue of $750,000, public float value of $5 million, and shareholder equity of $4 million [8]. - Nasdaq Global Market requires companies to meet higher standards, such as a minimum market value of $7.5 million and public float value of $2 million [10]. - The Nasdaq Global Select Market has the strictest standards, requiring total pre-tax income of $11 million over three years and a minimum market value of $160 million [11]. Group 3: Listing Process - The IPO process involves selecting intermediary institutions, submitting applications to regulatory bodies, conducting roadshows, and finalizing pricing before listing [12][13][14][15]. - Companies must obtain approval from domestic regulatory authorities before applying to foreign exchanges [12].