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Frequently Asked Questions
  If a company has more than one listed security, how does Nasdaq compute its listing fee?
Identification Number 1135
If a company has more than one listed security, Nasdaq will aggregate all securities that are subject to the same fee schedule and compute the company's fee for that security type based on the combined shares outstanding. There are separate fee schedules for the following types of securities and Nasdaq will aggregate all securities within each type:
  • Common stock and equivalents (such as ordinary shares or limited partnership units), preferred stock, warrants and units;
  • American Depositary Shares;
  • Closed-End Funds;
  • Convertible debentures;
  • Linked-Securities, SEEDS, and Other Securities listed pursuant to Rule 5730;
  • Exchange Traded Products, such as Portfolio Depositary Receipts, Index Fund Shares and Managed Fund Shares.
For example, a company has 100 million shares of common stock outstanding (2 million of which are restricted shares), 10 million shares of preferred stock and 10 million warrants. Nasdaq would determine the company's billing tier by adding together the shares outstanding for each of these classes, which in this case would be 120 million shares and would bill the company the All-Inclusive Annual Listing Fee applicable for that number of shares outstanding.
On the other hand, if the company has 90 million shares of common stock outstanding and 50 million trust preferred securities, which qualified for listing under the Other Securities listing standard contained in Rule 5730, these classes would not be aggregated because these securities are subject to different fee schedules. As a result, Nasdaq would bill the company the All-Inclusive Annual Listing Fee applicable for 90 million shares and the Other Security annual fee for 50 million shares.
Publication Date*: 11/30/2017 Mailto Link Identification Number: 1135
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