The Nasdaq Global Select Market, Nasdaq Capital Market, and Nasdaq Global Market are the three various levels of listings available on Nasdaq. There are unique listing requirements for each tier. In the event of an IPO, all companies must have 2200 total shareholders and 1.25 million outstanding shares (or 450 shareholders having 100 shares each). Unlimited shares (publicly owned shares and shareholder equity) will have a market value of at least 45,000,000 dollars. Businesses must adhere to one of following different financial norms. These include profit, capitalization, revenue, cash flow, equity, and assets.