What is the public listing criteria for equities?

Requirements to become an issuer on FUSANG Exchange Equity Main Board

Quantitative criteria:

  1. Market capitalization

      • Shareholders capital of at least USD 2 millions prior to listing and

      • A total market capitalization of at least USD10 million upon listing.
  2. Financial position & liquidity

      • No minimum operating track record or profit requirement.

      • Recognized auditors: No negative going concern opinion

      • Minimum 10% free float upon listing

Qualitative criteria:

1. Sponsorship

2. Core business
    • A clearly identifiable core business.

 3. Management capability

    • Management experience and capabilities on average experience of 5 years in the relevant industry prior to submission date

4. Moratorium on shares

    • Promoters’ entire shareholdings for 12 months from the date of listing.
    • A sell down of no more than 50% annually thereafter of the initial shareholding amount at the time of listing.

5. Transaction with related parties (Directors, Senior Management, Companies exceeding 20%)

    • Full disclosure of related parties transactions
    • Listing Sponsors to notify the exchange within 7 calendar days
6. Additional requirements for financial institutions
    • License type
7. Additional requirements for asset only companies (i.e Commodities, Oil and Gas Exploration, Real Estate and IP)
    • Independent third-party report on findings
    • Independent third-party valuation report
8. Type of investors