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NYSE · Americas

New York Stock Exchange

Listing requirements, segments and the practical points that matter for a company from the CIS, Central Asia or the Gulf.

Data checked: 6 November 2026
Location
New York, United States
Regulator
U.S. Securities and Exchange Commission (SEC); NYSE Listed Company Manual, Section 1
Trading currency
USD
Indicative timeline
Not specified

Listing segments

NYSE - domestic standards (Section 102.01)

Minimum market capitalisation
USD 200m
Minimum free float
Not specified
Track record
Not specified
Profit required
No
Minimum shareholders
400
Lock-up
Not specified

Meet one financial standard: Earnings Test (102.01C(I)): adjusted pre-tax income (i) total for last 3 FY at least USD 10m, each year above zero and at least USD 2m in each of the last 2 FY, or (ii) total USD 12m over 3 FY, at least USD 5m in the most recent FY and USD 2m in the next most recent; emerging growth companies may use 2 years. Global Market Capitalization Test (102.01C(II)): USD 200m (already traded companies must hold USD 200m and USD 4 price for 90 trading days). Distribution for IPOs: 400 round lot holders, 1.1m publicly held shares, market value of public shares USD 40m, price USD 4. Holders of 10% or more, directors and officers are excluded from public shares. Lock-up is market practice (usually 180 days), not a rule. Foreign private issuers may use these standards instead of Section 103.01.

NYSE - worldwide standards for foreign private issuers (Section 103.01)

Minimum market capitalisation
USD 500m
Minimum free float
Not specified
Track record
Not specified
Profit required
No
Minimum shareholders
5,000
Lock-up
Not specified

Alternate standards for large non-US companies with a broad, liquid home market. Earnings Test (103.01B(I)): pre-tax earnings at least USD 100m in aggregate for the last 3 FY with at least USD 25m in each of the 2 most recent FY (EGC: USD 100m over 2 years, USD 25m each). Valuation/Revenue with Cash Flow: global market cap USD 500m, revenue USD 100m in the last 12 months, cash flows USD 100m over 3 FY with at least USD 25m in each of the last 2. Pure Valuation/Revenue test (market cap USD 750m and revenue USD 75m) and distribution of 5,000 round lot holders worldwide, 2.5m publicly held shares worldwide and USD 100m market value of public shares are taken from secondary sources and were not re-read in the current manual text during this run.

Foreign issuers

Foreign private issuers choose either the domestic standards (Section 102.01) or the worldwide alternate standards (Section 103.01) and must meet all criteria of the chosen one. For an underwritten IPO of a company from outside North America, NYSE may count worldwide shareholders. FPIs may follow home-country governance with disclosure, subject to Section 303A.

Recent changes

No change to the core NYSE quantitative initial listing standards was found for 2025-2026 (NYSE Initial Listings summary, January 2026). The affiliated NYSE American tightened its standards on 27 March 2026 (price USD 4, unrestricted public float measures).

Strengths

  • Large, established and profitable companies seeking top-tier US visibility
  • Foreign champions that qualify under the worldwide standards using home-market shareholders
  • Industrial, financial and consumer companies wanting a broad institutional base

Watch-outs

  • Higher thresholds than Nasdaq: USD 200m market cap or USD 10m 3-year earnings; worldwide FPI standards start at USD 100m earnings or USD 500m cap
  • SEC registration, PCAOB audit, Sarbanes-Oxley and US litigation exposure

Sources

  1. 01NYSE Regulation - NYSE Initial Listings summary, January 2026primary source
  2. 02SEC - NYSE rule filing Exhibit 5 with text of Sections 102.01C and 103.01B (2012)primary source
  3. 03SEC - NYSE rule filing Exhibit 5 on Section 103.00 (2024)primary source
  4. 04Morgan Lewis - NYSE American proposes tightening initial listing liquidity standards (January 2026)

Requirements change. Always confirm with the exchange and the regulator before making decisions.

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Information on this site is educational. It is not investment advice, an offer of securities or financial advice. Exchange requirements change; always check the primary sources. Full disclaimer