Listed Company
A public company whose shares are traded on an organized stock exchange, meeting that exchange's listing requirements.
What is Listed Company?
A listed company is a corporation whose equity shares are officially admitted to trading on a recognized stock exchange, such as the NYSE, Nasdaq, London Stock Exchange, or Tokyo Stock Exchange. To become listed, a company must satisfy the exchange's initial listing standards—typically minimum thresholds for market capitalization, shareholders' equity, share price, number of shareholders, and earnings history. Listed companies are also subject to ongoing requirements: regular financial disclosure (quarterly and annual reports filed with the SEC for U.S. companies), corporate governance standards, and minimum market capitalization to remain listed. In exchange for meeting these obligations, listed companies gain access to public capital markets, enhanced liquidity for shareholders, a more transparent valuation, and greater brand credibility. Companies that fail to maintain listing standards can be delisted and transferred to the OTC (over-the-counter) market.
Example
When Airbnb went public on Nasdaq in December 2020, it became a listed company. As a condition of listing, Airbnb must file quarterly 10-Q and annual 10-K reports with the SEC, hold annual shareholder meetings, maintain a minimum share price, and comply with Nasdaq's corporate governance rules—including majority-independent board requirements.
Source: Nasdaq — Listing Standards