Alerts

NYSE Reduces Minimum Global Market Capitalization Requirement and Extends Suspension of Minimum Share Price Requirement

July 6, 2009

On June 30, 2009, the NYSE permanently reduced its minimum global market capitalization continued listing requirement from $25 million to $15 million. This change codified the temporary rule change from January 2009, as we discussed in “NYSE Provides Temporary Relief from Minimum Global Market Capitalization Requirement” (SRZ Alert, Jan. 28, 2009). Due to continued market turbulence, the lower threshold was subsequently extended as we pointed out in “NYSE Suspends $1.00 Minimum Share Price Requirement” (SRZ Alert, March 6, 2009). In adopting the lower requirement on a permanent basis, the NYSE noted that it had a $15 million minimum global market capitalization threshold until 2004, and that this threshold equals or exceeds the minimum capitalization requirements at the other major national exchanges.