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NYSE Amends Listed Company Manual to Increase Minimum Listing, Modification and Annual Listing Fees
Practical Law Legal Update 2-521-6819 (Approx. 3 pages)
NYSE Amends Listed Company Manual to Increase Minimum Listing, Modification and Annual Listing Fees
by PLC Corporate & Securities
| Published on 03 Oct 2012 • USA (National/Federal) |
The NYSE amended its Listed Company Manual to increase minimum listing fees, the fees for applications for modification of the NYSE records for an issuer, the fees for applications relating to poison pills and annual listing fees for an issuer's primary class of common shares. The new fees are effective on January 1, 2013.
On September 28, 2012, the NYSE proposed rule amendments to Section 902.03 of its Listed Company Manual increasing certain fees. The amendments:
- Increase the listing fee for a subsequent listing of additional securities from $5,000 to $7,500.
- Increase fees for applications for modifications to NYSE records (changes of name, par value, title of security or designation) and for applications relating to poison pills from $5,000 to $7,500.
- Increase the annual fees for an issuer's primary class of common shares or preferred stock if no common shares are listed from the greater of $38,000 or $0.00093 per share to the greater of $42,000 or $0.00093 per share.
This rule change is effective on filing with the SEC. The NYSE will immediately reflect the changes in its Listed Company Manual, but not implement the increased fees until January 1, 2013.
For more on securities exchanges and how to select the proper exchange, see Practice Note, Selecting a US Securities Exchange.