New York Stock Exchange Listing Rules

The New York Stock Exchange is the premier stock market in the U.S., and companies that wish to have their stocks listed on the NYSE must pass or meet a list of criteria before they are accepted onto the exchange.

Identification

To be listed on the NYSE, a company must meet the requirements in three categories: distribution and size, stock price and company financial data.

Size

To be listed, a company must have at least 1,100,000 shares in public hands. There must be at least 400 shareholders holding 100 shares or more each.

Price

At the time of listing on the NYSE, a company's share price must be $4 or greater. If the share price falls below $1 for an extended period of time, it can be de-listed.

Finances

Several financial criteria must be met to qualify for listing based on earnings or market capitalization. The company must have earned at least $10 million in the last three years or have market capitalization of $500 million, revenues of $100 million and positive cash flow.

Special Cases

Special listing requirements must be met by foreign companies, REITs and spinoffs or affiliates of already listed companies. The NYSE is looking for companies with broad ownership and a certain level of cash flow or shareholder equity.

References

• NYSE listing requirements