Does NASDAQ review a companys voting structure during the initial listing review process?
For an initial public offering, NASDAQ will generally accept any proposed voting structure. However, if a public company takes an action in contemplation of listing and such action would have been a violation of the Voting Rights Policy had the company already been listed, then the company’s application may be denied. Based on NASDAQ’s review of the voting structure and past corporate actions, NASDAQ may take any appropriate action including the denial of the application or the placing of restrictions on such qualification for inclusion. A company seeking inclusion of a security on NASDAQ should also disclose if it has requested a ruling or interpretation from another market regarding the application of that market’s voting rights policy to the proposed transaction.
Related Questions
- How does NASDAQ measure compliance with the bid price requirement for initial listing when a company lists pursuant to an initial public offering?
- What is the role of the NASDAQ Listing and Hearing Review Council in NASDAQs listing appeal process?
- Does NASDAQ review a companys voting structure during the initial listing review process?
