Nasdaq Global Select IPO Listing Requirements & Cost

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US · Americas · Global Select Market

Nasdaq Global Select

Nasdaq, Inc. · New York · USD

Deepest pool of global growth-tech capital and dedicated thematic funds.

Eligibility · Meridian Renewables (example)

Eligible

Meets listing standards; 1 governance action(s) to close before filing.

Min market cap

$160M

admission floor

Min free float

10%

public hands

Est. all-in

6.5%

on $700M

Time to list

24–28w

from kickoff

Regulator

SEC

oversight

Eligibility check

✓

Market capitalisation

Requirement: ≥ $160M

$4.8B

✓

Free float

Requirement: ≥ 10%

~15%

✓

Operating history

Requirement: ≥ 2 yrs

11 yrs

✓

Profit / revenue test

Requirement: Profit, cap or revenue test

Profitable

Governance standard

Requirement: SOX (US)

Gaps

✓

Accounting

Requirement: US GAAP / IFRS

IFRS

Rules as of 2026-Q2 · source: Nasdaq Listing Rules (5000 series) (SEC, US). Compiled summary — validate against the primary source before filing.

Fees & cost

Est. all-in · $700M raise$46M 6.5%

Underwriting spread5.0% · $35M

Initial listing fee$295k

Annual fee$185k

Legal · audit · IR · other$11M

Total all-in$46M (6.5%)

Market quality & investors

Liquidity★★★★★

Analyst coverage★★★★★

Retail participation★★★★★

Institutional depth★★★★★

Index inclusion

Nasdaq-100Russell

Aftermarket: +18% avg first-day (tech, 18mo)

Process & sectors

Typical time-to-list24–28w

RegulatorSEC

Dual / secondary listingSupported

Min public shareholders450

Sector strength

TechHealthcareRenewablesConsumer

Notable listings: First Solar, Enphase, CrowdStrike

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