ARTICLE
17 January 2025

Nasdaq Listing Fee Changes

GP
Goodwin Procter LLP

Contributor

At Goodwin, we partner with our clients to practice law with integrity, ingenuity, agility, and ambition. Our 1,600 lawyers across the United States, Europe, and Asia excel at complex transactions, high-stakes litigation and world-class advisory services in the technology, life sciences, real estate, private equity, and financial industries. Our unique combination of deep experience serving both the innovators and investors in a rapidly changing, technology-driven economy sets us apart.
Effective January 1, 2025, The Nasdaq Stock Market raised its all-inclusive annual listing fees for companies with equity securities listed on the Nasdaq Global Select, Global and Capital Markets.
United States Finance and Banking

Effective January 1, 2025, The Nasdaq Stock Market raised its all-inclusive annual listing fees for companies with equity securities listed on the Nasdaq Global Select, Global and Capital Markets. The full details concerning the fee increases and an explanation of the reasons for the increases can be found in Nasdaq's  filing with the SEC.

The following charts show the fee changes for most equity securities and American Depository Receipts (ADRs)

Equity Securities – Nasdaq Global Market (Including Nasdaq Global Select Market)

Listed Securities Number of Shares Outstanding Prior All-Inclusive Annual Listing Fee All-Inclusive Annual Listing Fee as of 1/1/2025
Equity securities (other than, in part, SPACs, closed-end funds and limited partnerships)* Up to 10 million shares $52,500 $56,000
10+ to 50 million shares $65,500 $70,000
50+ to 75 million shares $85,000 $86,000
75+ to 100 million Shares $113,500 $115,000
100+ to 125 million shares $141,500 $143,000
125+ to 150 million shares $157,500 $164,000
Over 150 million shares $182,500 $193,000

*See  Nasdaq's SEC filing for increases applicable to these securities.

ADRs – Nasdaq Global Market (Including Nasdaq Global Select Market)

Listed Securities Number of ADRs Outstanding Prior All-Inclusive Annual Listing Fee All-Inclusive Annual Listing Fee as of 1/1/2025
ADRs Up to 10 million ADRs and other listed equity securities $56,000 $56,000
10+ to 50 million ADRs and other listed equity securities $63,000 $63,000
50+ to 75 million ADRs and other listed equity securities $75,500 $75,500
  Over 75 million ADRs and other listed equity securities $105,000 $105,000

Equity Securities – Nasdaq Capital Market

Listed Securities Number of ADRs Outstanding Prior All-Inclusive Annual Listing Fee All-Inclusive Annual Listing Fee as of 1/1/2025
Equity securities (other than, in part, SPACs, closed-end funds and limited partnerships) Up to 10 million shares $49,500 $53,000
10+ to 50 million shares $65,500 $70,000
Over 50 million shares $85,000 $86,000

ADRs – Nasdaq Capital Market

Listed Securities Number of ADRs Outstanding Prior All-Inclusive Annual Listing Fee All-Inclusive Annual Listing Fee as of 1/1/2025
ADRs Up to 10 million ADRs and other listed equity securities $49,500 $53,000
  Over 10 million ADRs and other listed equity securities $59,500 $63,500

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

Mondaq uses cookies on this website. By using our website you agree to our use of cookies as set out in our Privacy Policy.

Learn More