Nasdaq proposes tighter listing rules for thinly traded stocks, China

By Mrinmay Dey

(Reuters) -Exchange operator Nasdaq proposed on Wednesday stricter listing standards, including a higher minimum public float for certain new listings and a faster process to suspend and delist thinly traded companies.

Nasdaq said in a statement that it would require companies primarily operating in China to raise a minimum of $25 million in public offering proceeds to qualify for listing, reviving a threshold it previously applied to issuers from “restrictive markets”.

The New York-headquartered exchange operator said it submitted the proposed rules to the U.S. Securities and Exchange Commission for review, and if approved, plans to implement the changes promptly.

Wall Street’s top regulator in June singled out China as it sought to raise disclosure requirements for lis