NYSE - Amex

Listing Requirements of the American Stock Exchange - NYSE-Amex
* last updated August 26, 2010

The American Stock Exchange was acquired by the New York Stock Exchange in 2008.  NYSE-Amex, as it is now referred to, is an attractive exchange for solid micro and small-cap companies.  NYSE-Amex has three different listing and public shareholder standards with a number of differing combinations within.  As a result, their listing requirements offers flexibility to companies operating in different market sectors.
 

Requirements

Standard 1

Standard 2

Standard 3

Standard 4

Shareholders' equity

$4 million

$4 million

$4 million

N/A

Pre-tax income required in last fiscal year or two of three most recent fiscal years.

$750,000

N/A

N/A

N/A

Market capitalization

N/A

N/A

$50 million

$75 million
OR
At least $75 million in total assets
and $75 million in revenues

Distribution

800 public shareholders and 500,000 shares publicly held
OR
400 public shareholders and 1 million shares publicly held
OR
400 public shareholders, 500,000 shares publicly held and average daily trading volume of 2,000 shares for prior 6 months
 

800 public shareholders and 500,000 shares publicly held
OR
400 public shareholders and 1 million shares publicly held
OR
400 public shareholders, 500,000 shares publicly held and average daily trading volume of 2,000 shares for prior 6 months
 

800 public shareholders and 500,000 shares publicly held
OR
400 public shareholders and 1 million shares publicly held
OR
400 public shareholders, 500,000 shares publicly held and average daily trading volume of 2,000 shares for prior 6 months
 

800 public shareholders and 500,000 shares publicly held
OR
400 public shareholders and 1 million shares publicly held
OR
400 public shareholders, 500,000 shares publicly held and average daily trading volume of 2,000 shares for prior 6 month
 

Price

$3

$3

$2

$3

Market value of  public float

$3 million

$15 million

$15 million

$20 million

The NYSE-Amex listing board also conducts a subjective review of all listing candidates looking at the:  
·  nature of a company's business;
·  market for its products;
·  reputation of its management;
·  historical record and pattern of growth;
·  financial integrity;
·  demonstrated earnings power; and
·  future outlook
Company's board of directors must agree to abide by the corporate governance requirements of AMEX.