01
Company and operating history
As a general guide, at least two complete years of operating history and genuine business activity.
LISTING ELIGIBILITY
Listing eligibility
Understand the baseline criteria for a company seeking admission to IDSX.
IDSX is intended for companies with genuine business operations and a clear ownership structure. Applicants need not meet a specified profit level, but must satisfy applicable financial, governance, market-participant and digital-security requirements.
REAL MARKETSREAL OPPORTUNITIES
KEY REQUIREMENTS
Core listing requirements
A company applying to list on IDSX should be prepared to meet the following baseline criteria:02
Minimum Public Float Value
At the time of listing, the aggregate expected market value of securities available for public trading should generally be not less than NZ$500,000.
03
Financial information
Financial information for at least two financial years; the latest complete year should generally be independently audited.
04
Ownership structure
Shareholdings, control and ultimate beneficial owners (UBOs) must be clear and verifiable.
05
Corporate governance
Board oversight, internal controls and disclosure arrangements appropriate to the company and its continuing obligations.
06
Public float
As a general guide, at least 10% of shares should be available for public trading after listing.
07
Market participants
Appoint a IDSX-recognised Sponsor and arrange at least two IDSX-recognised Market Makers.
08
Digital securities
The shares and company structure must support IDSX digital-security registration, transfers, trading and corporate actions.
ADDITIONAL REQUIREMENTS
Other areas considered
Fit and proper management
Directors and senior managers should meet applicable suitability standards.
Law and compliance
The company must identify and meet legal and regulatory requirements that apply to its business and listing.
Continuing obligations
The company should be able to meet ongoing disclosure, reporting and governance duties.
Eligible jurisdiction
The company’s place of incorporation and operations must be acceptable under applicable requirements.
LISTING PROCESS
Application pathway
- 1Confirm baseline eligibility
- 2Appoint a Sponsor
- 3Engage at least two Market Makers
- 4Complete due diligence
- 5Submit an application to IDSX
- 6IDSX review
- 7Admission and listing