重大调整！事关赴美IPO

Core Viewpoint - Nasdaq has proposed new listing standards to increase the minimum public float and fundraising requirements for new IPOs, aiming to expedite the delisting process for companies with listing deficiencies [2][4][6] Group 1: New Listing Standards - The new standards include a minimum public float market value of $15 million for companies listing under the net income standard, up from the previous $5 million [4] - Companies with listing deficiencies and a market value below $5 million will face accelerated suspension and delisting processes [4] - Companies from "restricted markets" must raise a minimum of $25 million in public offerings [4] Group 2: Impact on IPOs - All companies seeking to list in the U.S. must meet stricter non-restricted public float market value standards, with resale shares no longer counted in this calculation [5] - Companies will need to reassess their fundraising strategies to ensure they meet the new minimum standards [5] Group 3: Investor Protection and Market Integrity - Nasdaq emphasizes that these new standards are part of its mission to protect investors and maintain market integrity, reflecting efforts from regulators and market participants [6][7] - The adjustments follow an internal review that identified patterns related to "pump and dump" schemes, particularly in the U.S. cross-market trading environment [7][8] Group 4: Recent Trends in Listings - There has been a surge in suspicious trading activities related to specific companies, with notable examples such as Healthcare Triangle Inc. experiencing a 116% price increase in one day [8] - Since August 2022, nearly 70% of cases submitted by Nasdaq to U.S. regulators have involved companies primarily operating in China [9] - In 2024, 52 Chinese companies are expected to list on Nasdaq, with 39 having already done so this year, often raising smaller amounts between $5 million and $15 million [9]