SEC to Increase to 20% Minimum Public Float for Listed Companies

The Securities and Exchange Commission will require starting 1 July all companies applying for listing on the exchange a minimum public float of 20 percent of their issued and outstanding shares Companies already listed but below the 20-percent requirement will be given three years to comply. They will be required to increase their public float from the current 10-percent minimum to at least 15 percent before the end of 2018, and…

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