The Nasdaq stock exchange amended its diversity plan on Dec. 1 and filed a proposal with the U.S. Securities and Exchange Commission to mandate all companies maintain at least two board members from diverse backgrounds.
“Nasdaq recently submitted a proposal to the U.S. Securities and Exchange Commission focused on diversity of the boards of companies listed on our U.S. exchange,” wrote the President and CEO of Nasdaq Adena T. Friedman in the Wall Street Journal on Monday. “Our proposal establishes a recommended objective for companies to include at least two board members from diverse backgrounds. We asked that each company disclose anonymous aggregate data self-disclosed by the directors regarding their gender identity, race, ethnicity and sexual orientation.”
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Nasdaq filed a proposal with the Securities and Exchange Commission on December 1, 2020 to modify its listing standards to embrace diversity. Specifically, the exchange proposed to require companies listed on Nasdaq Global Select Market and Nasdaq Global Market to have two diverse directors within four years of the time the Commission approves the proposed rule. Firms listed on Nasdaq Capital Market would be expected to have two diverse directors within five years of the approval by the agency.
The purpose of the proposed rule is to “champion inclusive growth and prosperity to power stronger economies,” according to Nasdaq CEO Adena Friedman. To facilitate the goals of the proposal Nasdaq has entered into a partnership with Equilar, a leading provider of corporate leadership; data solutions. The platform afforded by Equilar will “enable Nasdaq-listed companies that have not yet met the proposed diversity obj
California State Treasurer Fiona Ma is backing a plan by Nasdaq that aims to diversify corporate board membership, which includes seeing more LGBTQ people serving on the governance bodies.
The technology company filed its proposal with the U.S. Securities and Exchange Commission December 1. It wants approval from the SEC to adopt new listing rules for its U.S. stock exchange that would require all companies listed there to publicly disclose consistent, transparent diversity statistics regarding their board of directors.
The new rules would also require most Nasdaq-listed companies to have, or explain why they do not have, at least two diverse directors, including one who self-identifies as female and one who self-identifies as either an underrepresented minority or an LGBTQ individual. Foreign companies and smaller reporting companies, however, could satisfy the requirement by having at least two female directors.
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Leading U.S. exchange by number of IPOs and proceeds raised for the second consecutive year
Largest year for IPOs on Nasdaq in the past decade by number of IPOs and proceeds raised
$278 billion in market value switched to Nasdaq in 2020
Nasdaq announced that in 2020 The Nasdaq Stock Market welcomed 300 initial public offerings (IPOs), raising a total of $77.86 billion. A total of 179 operating companies listed on Nasdaq in 2020, representing an 83 percent win rate in the U.S. market. Nasdaq extended its leadership to 28 consecutive quarters. In addition to the successful year in IPOs, 21 companies switched their corporate listings from the NYSE to join Nasdaq, and four companies transferred 19 bonds from the NYSE.
Nasdaq Welcomed 300 IPOs And 21 Exchange Transfers In 2020 Date
Leading U.S. exchange by number of IPOs and proceeds raised for the second consecutive year
Largest year for IPOs on Nasdaq in the past decade by number of IPOs and proceeds raised
$278 billion in market value switched to Nasdaq in 2020
Nasdaq (Nasdaq: NDAQ) announced today that in 2020 The Nasdaq Stock Market welcomed 300 initial public offerings (IPOs), raising a total of $77.86 billion. A total of 179 operating companies listed on Nasdaq in 2020, representing an 83 percent win rate in the U.S. market. Nasdaq extended its leadership to 28 consecutive quarters. In addition to the successful year in IPOs, 21 companies switched their corporate listings from the NYSE to join Nasdaq, and four companies transferred 19 bonds from the NYSE.