NASDAQ NASD OTC 692021 2 Major US Public
미국 NASDAQ, NASD OTC 및 해외투자 소개서 6/9/2021
(2) 주요 시장비교 Major US Public Markets Total Number of IPOs (신규 공개 발행) 99년말 기준 160 • • AMEX NYSE NASDAQ NASD OTC 151 143 135 140 120 100 Nasdaq NYSE AMEX 80 60 56 40 20 0 12 11 3 1/4 분 기 14 12 3 3 3 2/4 분기 3/4 분기 4/4 분기 14
Public Offerings Dollar Value (in Millions) 주식 공모 규모 ( 백만불 ) 60000 50000 Secondary Public Offerings 유상증자수 450 AMEX NYSE NASDAQ 400 350 40000 300 250 30000 20000 150 10000 50 0 1996 1997 1998 1999 15
Annual Share Volume 연간 주식 거래량 IPO 주가 동향 99년말 기준 30% 25. 70% 99년말 기준 80 70 25% 20% 56% 60 16. 70% 50 42% 40 15% 30 20 10% 10 2% 5% 0 79 80 81 82 83 84 85 86 87 88 89 90 91 92 93 94 95 96 97 98 99 0% NYSE Nasdaq Natl Mkt Nasdaq Amex NYSE 16
Number of New non-U. S. Listings 분기별 외국기업의 상장수 Market Growth 시장 성장율 99년말 기준 (%) 4, 000 3, 466 % 3, 500 22 NASDAQ NYSE 3, 000 2, 500 13 2, 000 1, 399% 1, 500 12 11 10 9 1, 000 1, 052% 5 5, 00 4 0 71 72 73 74 75 76 77 78 79 80 81 82 83 84 85 86 87 88 89 90 91 92 93 94 95 96 97 98 99 00 Nasdaq Composite Amex Composite 1/4 분기 2/4분기 3/4 분기 4/4분기 NYSE Composite 17
Average Daily Share Volume Number of Companies by Market 일일평균 주식거래량(백만주) 상장기업수 99년말 기준 4, 829 1, 071. 9 808. 9 3, 025 769 32. 7 NASDAQ NYSE AMEX 18
Nasdaq Market Capitalization Annual Dollor Volume Growth 시가총액(10억불) 연간 거래대금 성장율 100%- 99년말 기준 $5, 205 80%- 60%- 54% 1, 248% Increase 40%- 44% 20%- $386 2% 1989 1999 79 80 81 82 83 84 85 86 87 88 89 90 91 92 93 94 95 96 97 98 99 NASDAQ AMEX NYSE 19
1990 NASDAQ의 공식 명칭을 “NASDAQ Stock Market”으로 결정 1991 기업 OTC Bulletin Board(OTCBB) 설치, NASDAQ에 등록되지 않은 1992 정보 제공시작 1991 National Market이 Blue Sky 법에 의해 NYSE나 AMEX와 대등한 1992 위치로 승격 NASDAQ의 International Service 공식 개시 1993 Small Cap Market에도 실시간 거래보도 개시 1994 NASDAQ 증권시장이 연간주식거래량에서 처음으로 NYSE 추월 19951998 NASD와 AMEX 합병, The NASDAQ-AMEX Market Group 탄생 1996 Hongkong Securities Exchange와 업무제휴 19971999. 3 필라델피아 증권거래소와 합병 19981999. 6 호주 증권거래소와 업무제휴 1999 NASDAQ JAPAN 설립 21
(3) 현황 연도별 종합 현황 NASDAQ 1996 1997 1998 Share Volume (Billion) 138. 1 163. 9 202. 0 272. 6 Market Value ($Billion) 1, 517 1, 834 2, 588 5, 204 Dollar Volume ($Billion) 3, 301 4, 481 5, 758 11, 013 Companies 5, 556 5, 487 5, 068 4, 829 Issues 6, 384 6, 208 5, 583 5, 210 541 530 479 443 Active Market Makers Market Maker Positions 60, 897 60, 751 57, 404 1999 61, 092 23
시장 별 현황 NATIONAL MARKET 1996 1997 1998 1999 Share Volume (Billion) 124. 7 152. 1 187. 0 253. 6 Market Value ($Billion) 1, 471. 1 1, 771. 2 2, 563. 7 5, 171. 0 Dollar Volume ($Billion) 3, 225. 8 4, 378. 6 5, 711. 0 10, 748. 2 Companies 4, 147 4, 156 3, 919 3, 828 Issues 4, 371 4, 386 4, 129 4, 017 SMALL CAP 1996 1997 1998 1999 Share Volume (Billion) 13. 4 11. 7 15. 0 19. 0 Market Value ($Billion) 46. 0 63. 6 25. 1 33. 7 Dollar Volume ($Billion) 76. 0 103. 1 47. 6 265. 0 Companies 1, 409 1, 331 1, 149 1, 001 Issues 2, 013 1, 822 1, 454 1, 193 24
(4) 상장요건 NASDAQ Natl. Market 상장요건 (1) 상장요건 (2) 상장요건 (3) 유지요건 (1) 유지요건 (2) $6 Mill. $18 mill. N/A $4 mill. N/A N/A $75 mill. or $75 mill. and $75 mill. N/A $50 mill. or $50 mill. and $50 mill. Pre-tax Income (in latest fiscal year or 2 of last 3 fiscal years) (세전이익) $ 1 mill. N/A N/A Public Float (shares) (유동 주식수) 1. 1 mill. 750, 000 1. 1 mill Operating History(영업기간) N/A 2 years N/A N/A Market Value of Public Float (유동 주식 시가총액) $8 mill. $18 mill. $20 mill. $5 mill. $15 mill. Minimum Bid Price (최저입찰가격) $5 $5 $5 $1 $5 Shareholders (round lot holders) (주주수) 400 400 400 3 3 4 2 4 Yes Yes Yes Net Tangible Assets (순 유형자산) Market Capitalization(시가총액) Total Assets Total Revenue Market Makers Corporate Governance (기업관리법) 25
NASDAQ Small Cap : Market Requirements REQUIREMENTS 상장요건 유지요건 $4 million or $50 million or $750, 000 $2 million or $35 million or $500, 000 Public Float (shares) 1 million 500, 000 Market Value of Public Float $5 million $1 million Minimum Bid Price $4 $1 Market Makers 3 2 300 1 year or $50 million N/A Yes Net Tangible Assets Market Capitalization Net Income (in latest fiscal year or 2 of last 3 fiscal years) Shareholders (round lot holders) Operating History Market Capitalization Corporate Governance 26
(8) 소요비용 Entry Fee Comparison : 시장별 초기 등록 비용 Number of Share < 1 Mill Nasdaq Natl. Mkt. NYSE Amex $34, 525 $51, 550 $10, 000 5+ Mill to 6 Mill 63, 725 84. 6 K – 88. 1 K 27, 500 10+ Mill to 11 Mill 78, 875 102. 1 K-105. 6 K 42, 500 15+ Mill to 16 Mill 90, 500 119. 6 K-123. 1 K 50, 000 20+ Mill to 25 Mill 95, 000 137. 1 K-154. 6 K 50, 000 50+ Mill to 75 Mill 95, 000 242. 1 K-329. 6 K 50, 000 75+ Mill to 100 Mill 95, 000 329. 6 K-417. 1 K 50, 000 100+ to 125 Mill 95, 000 417. 1 K-504. 6 K 50, 000 29
Annual Fee Comparison : 시장별 년간 비용 비교 Number of Shares < 1 Mill Nasdaq Natl. Mkt. NYSE Amex $10, 710 $16, 170 $6, 500 5+ Mill to 6 Mill 11, 960 16, 170 9, 000 10+ Mill to 11 Mill 17, 255 24, 260 11, 500 15+ Mill to 16 Mill 18, 505 24, 260 14, 000 20+ Mill to 25 Mill 22, 795 33, 340 14, 500 50+ Mill to 75 Mill 32, 625 48. 4 K – 63. 9 K 14, 500 75+ Mill to 100 Mill 43, 125 63. 9 K – 84. 6 K 14, 500 100+ to 125 Mill 50, 000 84. 6 K– 167. 6 K 14, 500 30
(2) 현황 Oct. 2000 Oct. 1999 % Change Securities 3, 606 6, 214 -41. 97 Quote Updates(Avg Daily) 32, 778 32, 997 -0. 66 Market Makers 330 375 -12 MM per Security 10. 4 7. 5 +38. 67 Total Positions 37, 487 46, 579 -19. 52 Total Share Volume 5, 256, 709, 837 5, 058, 912, 748 +3. 91 Total Dollar Volume $2, 418, 209, 011 $3, 086, 843, 724 -21. 66 Total Transaction 876, 061 754, 444 +16. 12 32
미국법인과 해외법인의 주식등록 현황 Oct. 2000 Domestic Securities Share Volume 221, 601, 155 Securities 3, 470 Securities Traded 1, 861 Foreign Securities 17, 272, 573 130 75 Total 238, 941, 357 3, 606 1, 938 주식가격 현황 Price Range Securities Oct 2000 Securities Oct 1999 $0. 00 ~ 1. 0 2, 035 3, 444 $1. 01 ~ 10. 00 919 1, 247 $10. 01 ~ 100. 00 616 998 $100. 01 ~ 200. 00 12 54 $200. 01 + 15 74 33
(6) NASD OTC 상장 기업 성공사례 v Nestle S. A v Deutsche Bank AG v Heineken N. V v L`oreal v NOKIA v Sega Enterprises v Volkswagen v Puma Sport 37
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