NASDAQ Proposes to Modify Fees for Non-US Companies Listing Additional Shares | Practical Law

NASDAQ Proposes to Modify Fees for Non-US Companies Listing Additional Shares | Practical Law

NASDAQ proposed to modify fees for non-US companies listing additional shares on the exchange.

NASDAQ Proposes to Modify Fees for Non-US Companies Listing Additional Shares

Practical Law Legal Update 8-545-5166 (Approx. 2 pages)

NASDAQ Proposes to Modify Fees for Non-US Companies Listing Additional Shares

by Practical Law Corporate & Securities
Published on 14 Oct 2013 • USA (National/Federal)
NASDAQ proposed to modify fees for non-US companies listing additional shares on the exchange.
On October 11, 2013, NASDAQ issued a proposed rule change to modify the fees payable by non-US issuers listing additional shares on the exchange. Currently, issuers must pay the following fees when listing additional shares on NASDAQ:
  • Domestic companies: $0.01 per share for any amount of shares exceeding 49,999 shares issued during a quarter, subject to a minimum fee of $5,000 per quarter and a maximum fee of $65,000 per year.
  • Non-US companies: a flat fee of $5,000 for any amount of shares exceeding 49,999 issued during a year.
The proposed rule change would:
  • Require foreign companies that are not foreign private issuers (FPIs) to pay the same fees as domestic companies when listing additional shares. This would align the fees with NASDAQ's other rules, which treat non-FPI foreign issuers the same as domestic companies.
  • Increase the fees for FPIs listing additional shares in excess of 49,999 during a year from $5,000 to $7,500.
The proposed changes take effect on January 1, 2014.
For more information on securities exchanges and how to select the proper exchange, see Practice Note, Selecting a US Securities Exchange.