NYSE Listed Company Manual Section 102.01

Key Requirements:

• Requires companies seeking an initial NYSE listing to have a sufficiently broad public shareholder base and a minimum number of publicly held shares.
• Establishes quantitative distribution standards, including:
  • requirements related to public shareholders;
  • publicly held shares; and
  • the market value of shares held by the public.
• Seeks to ensure that a company’s stock will have adequate liquidity and active trading once listed.
• Helps prevent listings where ownership is overly concentrated among a small group of investors.
• Requires companies to demonstrate that there is likely to be a market for their securities before admitting them to trading on the Exchange.
• Forms a core part of the NYSE’s review process for determining whether a company is suitable for initial listing.