Nasdaq to tighten listing rules

Nasdaq Inc. is slated to unveil new restrictions on initial public offerings, people familiar with the matter told Reuters.

The new rules would require companies from some countries, including China, to raise at least $25 million in their IPO, or at least a quarter of their post-listing market capitalization, according to the sources.

The Nasdaq announcement is not expected to specifically cite the country, but the sources said the restrictions are driven largely by concerns about some Chinese IPO companies' accounting transparency.

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