NYSE Eases Fees for New Stock Listings in First Five Years
Published Date: 4/8/2025
Notice
Summary
If a company lists a new class of common stock on the NYSE, it only has to pay the initial and yearly fees for its main stock class during the first five years. This means no extra fees for other stock types or special changes during that time. This change helps new listings save money and starts right away!
Analyzed Economic Effects
2 provisions identified: 1 benefits, 0 costs, 1 mixed.
Five-Year Fee Exemption for New NYSE Listings
If your company lists a class of common stock on the NYSE, then from the date of initial listing until its fifth anniversary your company will only owe the Initial Listing Fee and the Annual Listing Fee for its primary class of equity. During that five-year period the company is exempt from Additional Listing Fees and Alternative Listing Fees (examples include additional shares, additional classes, preferred stock, warrants, convertible securities, Technical Original Listing or reverse split applications, and record-change or poison-pill related applications). The filing notes the Initial Listing Fee is currently $325,000 and example Alternative Listing Fees include $5,000 for an additional class, a $10,000 minimum for additional shares (tiered per-share pricing), $0.004 per share for certain securities, $10,000 supplemental listing fee, $15,000 reverse split application fee, and $10,000 for certain record-change/poison pill applications.
Who Gets Exemptions and Key Limits
The exemption applies from the date of initial listing through the fifth anniversary and is effective April 1, 2025. Companies that initially listed a class of common equity on or after April 1, 2021 will receive a prorated portion of the five-year exemption running from April 1, 2025 to their five-year listing anniversary; fees paid before April 1, 2025 will not be refunded. Companies that transfer a primary class of common equity from another national securities exchange are not eligible, and issuers listing only preferred stock or debt remain subject to the other applicable fee schedules (for example, Sections 902.05, 902.06, and 902.08).
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