{"id":64731,"date":"2024-11-01T14:05:55","date_gmt":"2024-11-01T05:05:55","guid":{"rendered":"https:\/\/monolith.law\/cs\/?p=64731"},"modified":"2024-11-13T20:25:25","modified_gmt":"2024-11-13T11:25:25","slug":"nasdaq-faq","status":"publish","type":"post","link":"https:\/\/monolith.law\/cs\/it\/nasdaq-faq","title":{"rendered":"\u010casto kladen\u00e9 ot\u00e1zky t\u00fdkaj\u00edc\u00ed se vstupu japonsk\u00fdch spole\u010dnost\u00ed na burzu NASDAQ, kter\u00e9 zve\u0159ejnil advok\u00e1t"},"content":{"rendered":"\n<p>V roce 2023 (\u4ee4\u548c5\u5e74) se \u0161esti japonsk\u00fdm spole\u010dnostem poda\u0159ilo vstoupit na burzu NASDAQ. M\u016f\u017eeme \u0159\u00edci, \u017ee mo\u017enost \u201ejaponsk\u00fdch spole\u010dnost\u00ed usiluj\u00edc\u00edch o vstup na NASDAQ\u201c se postupn\u011b st\u00e1v\u00e1 b\u011b\u017en\u011bj\u0161\u00ed.<\/p>\n\n\n\n<p>Av\u0161ak vstup japonsk\u00fdch spole\u010dnost\u00ed na NASDAQ je st\u00e1le oblast\u00ed s omezen\u00fdmi zku\u0161enostmi. V d\u016fsledku toho, i kdy\u017e v p\u0159\u00edpad\u011b vstupu na japonsk\u00fd trh existuje ji\u017e mnoho nashrom\u00e1\u017ed\u011bn\u00fdch znalost\u00ed a odborn\u00fdch post\u0159eh\u016f, v Japonsku je m\u00e1lo lid\u00ed s odborn\u00fdmi znalostmi o vstupu na NASDAQ.<\/p>\n\n\n\n<p>Na\u0161e pr\u00e1vn\u00ed kancel\u00e1\u0159 Monolith poskytuje podporu japonsk\u00fdm spole\u010dnostem p\u0159i vstupu na NASDAQ prost\u0159ednictv\u00edm spolupr\u00e1ce s zahrani\u010dn\u00edmi firmami, kter\u00e9 maj\u00ed bohat\u00e9 zku\u0161enosti s NASDAQ. D\u00edky tomu m\u00e1me aktu\u00e1ln\u00ed znalosti o r\u016fzn\u00fdch aspektech, kter\u00e9 se v minulosti staly p\u0159edm\u011btem diskuse p\u0159i vstupu mnoha spole\u010dnost\u00ed (mimo Japonsko) na NASDAQ. N\u00ed\u017ee v\u00e1m ve form\u011b FAQ poskytneme vysv\u011btlen\u00ed bod\u016f, kter\u00e9 se \u010dasto st\u00e1vaj\u00ed p\u0159edm\u011btem diskuse.<\/p>\n\n\n\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_53 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<span class=\"ez-toc-title-toggle\"><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/monolith.law\/cs\/it\/nasdaq-faq\/#Zvyseni_kapitalu_a_prevod_akcii_pred_vstupem_na_burzu\" title=\"Zv\u00fd\u0161en\u00ed kapit\u00e1lu a p\u0159evod akci\u00ed p\u0159ed vstupem na burzu\">Zv\u00fd\u0161en\u00ed kapit\u00e1lu a p\u0159evod akci\u00ed p\u0159ed vstupem na burzu<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/monolith.law\/cs\/it\/nasdaq-faq\/#Corporate_Governance_pro_spolecnosti_kotovane_na_NASDAQ\" title=\"Corporate Governance pro spole\u010dnosti k\u00f3tovan\u00e9 na NASDAQ\">Corporate Governance pro spole\u010dnosti k\u00f3tovan\u00e9 na NASDAQ<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/monolith.law\/cs\/it\/nasdaq-faq\/#Podminky_pro_stani_se_CFO_Chief_Financial_Officer\" title=\"Podm\u00ednky pro st\u00e1n\u00ed se CFO (Chief Financial Officer)\">Podm\u00ednky pro st\u00e1n\u00ed se CFO (Chief Financial Officer)<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/monolith.law\/cs\/it\/nasdaq-faq\/#Nasdaq_kotace_pro_MS_spolecnosti_a_jine_v_Japonsku_obtizne_verejne_obchodovatelne_firmy\" title=\"Nasdaq kotace pro MS spole\u010dnosti (a jin\u00e9 v Japonsku obt\u00ed\u017en\u011b ve\u0159ejn\u011b obchodovateln\u00e9 firmy)\">Nasdaq kotace pro MS spole\u010dnosti (a jin\u00e9 v Japonsku obt\u00ed\u017en\u011b ve\u0159ejn\u011b obchodovateln\u00e9 firmy)<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/monolith.law\/cs\/it\/nasdaq-faq\/#Podil_akcii_nabizenych_k_prodeji_pri_vstupu_na_burzu_na_zaklade_kriteria_zisku\" title=\"Pod\u00edl akci\u00ed nab\u00edzen\u00fdch k prodeji p\u0159i vstupu na burzu na z\u00e1klad\u011b krit\u00e9ria zisku\">Pod\u00edl akci\u00ed nab\u00edzen\u00fdch k prodeji p\u0159i vstupu na burzu na z\u00e1klad\u011b krit\u00e9ria zisku<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/monolith.law\/cs\/it\/nasdaq-faq\/#Vyznam_a_dalsi_aspekty_%E2%80%9Etrzni_kapitalizace%E2%80%9C_pri_vstupu_na_burzu_na_zaklade_trzni_kapitalizace\" title=\"V\u00fdznam a dal\u0161\u00ed aspekty \u201etr\u017en\u00ed kapitalizace\u201c p\u0159i vstupu na burzu na z\u00e1klad\u011b tr\u017en\u00ed kapitalizace\">V\u00fdznam a dal\u0161\u00ed aspekty \u201etr\u017en\u00ed kapitalizace\u201c p\u0159i vstupu na burzu na z\u00e1klad\u011b tr\u017en\u00ed kapitalizace<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/monolith.law\/cs\/it\/nasdaq-faq\/#Predstaveni_opatreni_nasi_kancelare\" title=\"P\u0159edstaven\u00ed opat\u0159en\u00ed na\u0161\u00ed kancel\u00e1\u0159e\">P\u0159edstaven\u00ed opat\u0159en\u00ed na\u0161\u00ed kancel\u00e1\u0159e<\/a><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Zvyseni_kapitalu_a_prevod_akcii_pred_vstupem_na_burzu\"><\/span>Zv\u00fd\u0161en\u00ed kapit\u00e1lu a p\u0159evod akci\u00ed p\u0159ed vstupem na burzu<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/monolith.law\/wp-content\/uploads\/2024\/08\/a528846f36e91c826dd584e5cc7d6f1b.jpg\" alt=\"Zv\u00fd\u0161en\u00ed kapit\u00e1lu a p\u0159evod akci\u00ed p\u0159ed vstupem na burzu\" class=\"wp-image-88842\" \/><\/figure>\n\n\n\n<p>Je ot\u00e1zkou, zda existuj\u00ed n\u011bjak\u00e9 nev\u00fdhody pro spole\u010dnosti, kter\u00e9 usiluj\u00ed o vstup na burzu NASDAQ, kdy\u017e prov\u00e1d\u011bj\u00ed zv\u00fd\u0161en\u00ed kapit\u00e1lu prost\u0159ednictv\u00edm alokace t\u0159et\u00edm stran\u00e1m nebo p\u0159evod akci\u00ed p\u0159ed samotn\u00fdm vstupem na burzu.<\/p>\n\n\n\n<p>V t\u00e9to souvislosti je nutn\u00e9 rozli\u0161ovat mezi zv\u00fd\u0161en\u00edm kapit\u00e1lu prost\u0159ednictv\u00edm alokace t\u0159et\u00edm stran\u00e1m a p\u0159evodem akci\u00ed jako transakc\u00ed mezi souvisej\u00edc\u00edmi stranami. Ob\u011b tyto aktivity jsou sice p\u0159edm\u011btem zve\u0159ejn\u011bn\u00ed u SEC, pokud se uskute\u010dn\u00ed do t\u0159\u00ed let p\u0159ed vstupem na burzu, ale existuj\u00ed mezi nimi n\u00e1sleduj\u00edc\u00ed rozd\u00edly.<\/p>\n\n\n\n<p>V p\u0159\u00edpad\u011b zv\u00fd\u0161en\u00ed kapit\u00e1lu prost\u0159ednictv\u00edm alokace t\u0159et\u00edm stran\u00e1m m\u016f\u017ee SEC polo\u017eit ot\u00e1zky t\u00fdkaj\u00edc\u00ed se rozd\u00edlu mezi cenou akci\u00ed (tr\u017en\u00ed kapitalizac\u00ed spole\u010dnosti) v dob\u011b zv\u00fd\u0161en\u00ed kapit\u00e1lu a cenou akci\u00ed (tr\u017en\u00ed kapitalizac\u00ed spole\u010dnosti) v dob\u011b vstupu na burzu. Zvl\u00e1\u0161t\u011b zv\u00fd\u0161en\u00ed kapit\u00e1lu do jednoho roku p\u0159ed vstupem na burzu m\u016f\u017ee m\u00edt v\u00fdznamn\u00fd dopad na tr\u017en\u00ed kapitalizaci spole\u010dnosti v dob\u011b vstupu na burzu, co\u017e je praktick\u00fd probl\u00e9m, kter\u00fd se \u010dasto vyskytuje.<\/p>\n\n\n\n<p>Na druh\u00e9 stran\u011b, pokud p\u016fvodn\u00ed akcion\u00e1\u0159i, jako jsou zakladatel\u00e9, provedou p\u0159evod akci\u00ed jako transakci mezi souvisej\u00edc\u00edmi stranami nebo t\u0159et\u00edmi stranami, i kdy\u017e je to p\u0159edm\u011btem zve\u0159ejn\u011bn\u00ed u SEC, SEC obvykle nenam\u00edt\u00e1 ani neklade ot\u00e1zky t\u00fdkaj\u00edc\u00ed se p\u0159evodn\u00ed ceny akci\u00ed, i kdy\u017e je n\u00edzk\u00e1.<\/p>\n\n\n\n<p>Z toho d\u016fvodu lze \u0159\u00edci, \u017ee alespo\u0148 po zah\u00e1jen\u00ed p\u0159\u00edprav na vstup na burzu je t\u0159eba:<\/p>\n\n\n\n<ul>\n<li>P\u0159i zv\u00fd\u0161en\u00ed kapit\u00e1lu prost\u0159ednictv\u00edm alokace t\u0159et\u00edm stran\u00e1m pe\u010dliv\u011b zv\u00e1\u017eit cenu akci\u00ed (tr\u017en\u00ed kapitalizaci spole\u010dnosti) v t\u00e9 dob\u011b<\/li>\n\n\n\n<li>V p\u0159\u00edpad\u011b p\u0159evodu akci\u00ed jako transakce mezi souvisej\u00edc\u00edmi stranami je mo\u017en\u00e9 podm\u00ednky stanovit alespo\u0148 relativn\u011b flexibiln\u011b<\/li>\n<\/ul>\n\n\n\n<p>To bychom mohli konstatovat.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Corporate_Governance_pro_spolecnosti_kotovane_na_NASDAQ\"><\/span>Corporate Governance pro spole\u010dnosti k\u00f3tovan\u00e9 na NASDAQ<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Po kotaci na NASDAQ se spole\u010dnosti mus\u00ed \u0159\u00eddit p\u0159\u00edsn\u00fdmi standardy americk\u00e9ho corporate governance. Ot\u00e1zkou je, zda je to nutn\u00e9.<\/p>\n\n\n\n<p>Jedn\u00e1 se o komplexn\u00ed t\u00e9ma, kter\u00e9 vy\u017eaduje zv\u00e1\u017een\u00ed r\u016fzn\u00fdch aspekt\u016f, a proto nen\u00ed snadn\u00e9 odpov\u011bd\u011bt jedn\u00edm slovem. Nicm\u00e9n\u011b zde uvedeme stru\u010dn\u00fd p\u0159ehled.<\/p>\n\n\n\n<p>Z\u00e1sadn\u011b plat\u00ed, \u017ee NASDAQ prost\u0159ednictv\u00edm sv\u00e9ho pravidla \u010d. 5605 (NASDAQ Listing Rule 5605) stanovuje p\u0159\u00edsn\u00e1 pravidla pro corporate governance. Kdy\u017e v\u0161ak japonsk\u00e1 spole\u010dnost vstoup\u00ed na NASDAQ, st\u00e1v\u00e1 se &#8220;zahrani\u010dn\u00edm soukrom\u00fdm emitentem&#8221;. V takov\u00e9m p\u0159\u00edpad\u011b americk\u00e1 Komise pro cenn\u00e9 pap\u00edry a burzu (SEC) v\u00fdjime\u010dn\u011b po\u017eaduje, aby se tyto spole\u010dnosti \u0159\u00eddily corporate governance podle pr\u00e1vn\u00edch p\u0159edpis\u016f sv\u00e9 vlastn\u00ed zem\u011b, nikoli podle standard\u016f NASDAQ.<\/p>\n\n\n\n<p>V d\u016fsledku toho japonsk\u00e9 spole\u010dnosti k\u00f3tovan\u00e9 na NASDAQ mus\u00ed, s n\u011bkolika v\u00fdjimkami, z\u00e1sadn\u011b spl\u0148ovat po\u017eadavky na corporate governance stanoven\u00e9 japonsk\u00fdm obchodn\u00edm z\u00e1kon\u00edkem (Japanese Company Law), aby vyhov\u011bly.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Podminky_pro_stani_se_CFO_Chief_Financial_Officer\"><\/span>Podm\u00ednky pro st\u00e1n\u00ed se CFO (Chief Financial Officer)<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/monolith.law\/wp-content\/uploads\/2024\/08\/e55c59c2303d9ed0ac01c07ed1b21088.jpg\" alt=\"MS\u6cd5\u4eba\uff08\u306a\u3069\u65e5\u672c\u3067\u306f\u4e0a\u5834\u3057\u306b\u304f\u3044\u4f01\u696d\uff09\u306eNASDAQ\u4e0a\u5834\" class=\"wp-image-88843\" \/><\/figure>\n\n\n\n<p>Pro spole\u010dnosti k\u00f3tovan\u00e9 na NASDAQ je vy\u017eadov\u00e1na pozice CFO (Chief Financial Officer).<\/p>\n\n\n\n<p>CFO je term\u00edn, kter\u00fd se stal zn\u00e1m\u00fdm ve sv\u011bt\u011b startup\u016f, ale v japonsk\u00e9m pr\u00e1vu to nen\u00ed ofici\u00e1ln\u00ed term\u00edn. To znamen\u00e1, \u017ee podle japonsk\u00e9ho obchodn\u00edho z\u00e1kon\u00edku pozice CFO neexistuje a je na spole\u010dnostech, aby si takovou pozici z\u0159\u00eddily podle vlastn\u00edho uv\u00e1\u017een\u00ed, i kdy\u017e to nem\u00e1 \u017e\u00e1dn\u00fd pr\u00e1vn\u00ed v\u00fdznam.<\/p>\n\n\n\n<p>Na druhou stranu, p\u0159i vstupu na burzu NASDAQ jsou na pozici CFO kladeny ur\u010dit\u00e9 po\u017eadavky jako na ofici\u00e1ln\u00ed pozici podle krit\u00e9ri\u00ed pro k\u00f3tov\u00e1n\u00ed.<\/p>\n\n\n\n<ul>\n<li>CFO m\u016f\u017ee b\u00fdt jak\u00fdkoliv zam\u011bstnanec spole\u010dnosti, a\u0165 u\u017e se jedn\u00e1 o \u010dlena p\u0159edstavenstva, st\u00e1l\u00e9ho zam\u011bstnance nebo extern\u00edho spolupracovn\u00edka.<\/li>\n\n\n\n<li>CFO mus\u00ed b\u00fdt zam\u011bstnancem spole\u010dnosti na pln\u00fd \u00favazek. P\u0159esn\u011bji \u0159e\u010deno, b\u011bhem p\u0159\u00edpravy na vstup na burzu m\u016f\u017ee b\u00fdt na \u010d\u00e1ste\u010dn\u00fd \u00favazek, ale v dob\u011b samotn\u00e9ho vstupu na burzu je vy\u017eadov\u00e1n pln\u00fd \u00favazek.<\/li>\n\n\n\n<li>CFO m\u016f\u017ee z\u00e1rove\u0148 vykon\u00e1vat pr\u00e1ci v jin\u00fdch spole\u010dnostech. To znamen\u00e1, \u017ee nap\u0159\u00edklad osoba, kter\u00e1 je zam\u011bstn\u00e1na na pln\u00fd \u00favazek v spole\u010dnosti k\u00f3tovan\u00e9 na NASDAQ a z\u00e1rove\u0148 je gener\u00e1ln\u00edm \u0159editelem jin\u00e9 spole\u010dnosti, je p\u0159ijateln\u00e1.<\/li>\n<\/ul>\n\n\n\n<p>A\u010dkoliv pozice CFO neexistuje v japonsk\u00e9m obchodn\u00edm z\u00e1kon\u00edku a m\u016f\u017ee b\u00fdt p\u0159i vstupu na burzu NASDAQ jmenov\u00e1na do jist\u00e9 m\u00edry form\u00e1ln\u011b, CFO m\u00e1 z\u00e1sadn\u00ed odpov\u011bdnost za dodr\u017eov\u00e1n\u00ed standard\u016f finan\u010dn\u00edho v\u00fdkaznictv\u00ed a spr\u00e1vy. CFO dohl\u00ed\u017e\u00ed na finan\u010dn\u00ed operace spole\u010dnosti a zaji\u0161\u0165uje, \u017ee finan\u010dn\u00ed v\u00fdkazy a r\u016fzn\u00e9 zpr\u00e1vy jsou v souladu s obecn\u011b uzn\u00e1van\u00fdmi \u00fa\u010detn\u00edmi z\u00e1sadami (GAAP) a pravidly SEC. Tato role je nesm\u00edrn\u011b d\u016fle\u017eit\u00e1 pro udr\u017een\u00ed d\u016fv\u011bry investor\u016f po ve\u0159ejn\u00e9 nab\u00eddce akci\u00ed a pro reakci na dohled regula\u010dn\u00edch org\u00e1n\u016f. Je tedy mo\u017en\u00e9 \u0159\u00edci, \u017ee je vhodn\u00e9 jmenovat do pozice CFO osobu, kter\u00e1 je pro tuto roli kvalifikovan\u00e1.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Nasdaq_kotace_pro_MS_spolecnosti_a_jine_v_Japonsku_obtizne_verejne_obchodovatelne_firmy\"><\/span>Nasdaq kotace pro MS spole\u010dnosti (a jin\u00e9 v Japonsku obt\u00ed\u017en\u011b ve\u0159ejn\u011b obchodovateln\u00e9 firmy)<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>MS spole\u010dnost, neboli spole\u010dnost poskytuj\u00edc\u00ed l\u00e9ka\u0159sk\u00e9 slu\u017eby, je pr\u00e1vnick\u00e1 osoba zalo\u017een\u00e1 za \u00fa\u010delem provozov\u00e1n\u00ed nemocni\u010dn\u00edch operac\u00ed, kter\u00e9 nejsou v\u00fdhradn\u011b vyhrazeny pro zdravotnick\u00e1 za\u0159\u00edzen\u00ed definovan\u00e1 z\u00e1konem. Tyto spole\u010dnosti se v Japonsku obvykle nemohou st\u00e1t ve\u0159ejn\u011b obchodovateln\u00fdmi na burze cenn\u00fdch pap\u00edr\u016f, ale ot\u00e1zkou je, zda je mo\u017en\u00e9 je kotovat na NASDAQ.<\/p>\n\n\n\n<p>Jako z\u00e1v\u011br lze \u0159\u00edci, \u017ee to, \u017ee je spole\u010dnost MS spole\u010dnost\u00ed, nen\u00ed p\u0159ek\u00e1\u017ekou pro kotaci na NASDAQ. NASDAQ se vyzna\u010duje t\u00edm, \u017ee pokud jsou spln\u011bny form\u00e1ln\u00ed krit\u00e9ria pro kotaci, m\u016f\u017ee b\u00fdt i MS spole\u010dnost ve\u0159ejn\u011b obchodovateln\u00e1.<\/p>\n\n\n\n<p>Je v\u0161ak pravda, \u017ee MS spole\u010dnosti \u010dasto z\u00e1vis\u00ed na jednom konkr\u00e9tn\u00edm zdravotnick\u00e9m za\u0159\u00edzen\u00ed pro v\u011bt\u0161inu sv\u00fdch p\u0159\u00edjm\u016f, co\u017e m\u016f\u017ee znamenat ni\u017e\u0161\u00ed stabilitu v dlouhodob\u00e9m hospoda\u0159en\u00ed. Tento faktor m\u016f\u017ee ovlivnit &#8220;tr\u017en\u00ed kapitalizaci p\u0159i kotaci&#8221; a &#8220;skute\u010dn\u00fd z\u00e1jem investor\u016f&#8221;, ale neovliv\u0148uje mo\u017enost &#8220;b\u00fdt kotov\u00e1n \u010di nikoliv&#8221;.<\/p>\n\n\n\n<p>A toto nen\u00ed diskuse omezen\u00e1 pouze na MS spole\u010dnosti. Jak bylo uvedeno v\u00fd\u0161e, NASDAQ umo\u017e\u0148uje kotaci spole\u010dnostem, kter\u00e9 spl\u0148uj\u00ed form\u00e1ln\u00ed krit\u00e9ria, co\u017e znamen\u00e1, \u017ee i jin\u00e9 typy firem, kter\u00e9 by v Japonsku m\u011bly probl\u00e9my s ve\u0159ejnou obchodovatelnost\u00ed nebo by nebyly schopny kotovat, mohou b\u00fdt na NASDAQ kotov\u00e1ny stejn\u00fdm zp\u016fsobem.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Podil_akcii_nabizenych_k_prodeji_pri_vstupu_na_burzu_na_zaklade_kriteria_zisku\"><\/span>Pod\u00edl akci\u00ed nab\u00edzen\u00fdch k prodeji p\u0159i vstupu na burzu na z\u00e1klad\u011b krit\u00e9ria zisku<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Pro vstup na NASDAQ Capital Market existuj\u00ed t\u0159i hlavn\u00ed krit\u00e9ria: kapit\u00e1lov\u00e9, tr\u017en\u00ed kapitalizace a ziskov\u00e9. V Japonsku se v posledn\u00ed dob\u011b obecn\u011b pova\u017euje ziskov\u00e9 krit\u00e9rium za nejb\u011b\u017en\u011bj\u0161\u00ed.<\/p>\n\n\n\n<p>Ziskov\u00e9 krit\u00e9rium umo\u017e\u0148uje vstup na burzu NASDAQ, pokud jsou spln\u011bna n\u011bkter\u00e1 specifick\u00e1 krit\u00e9ria, jako je nap\u0159\u00edklad \u010dist\u00fd zisk z pokra\u010duj\u00edc\u00edho podnik\u00e1n\u00ed ve v\u00fd\u0161i 750 000 americk\u00fdch dolar\u016f a v\u00edce. V takov\u00e9m p\u0159\u00edpad\u011b mus\u00ed b\u00fdt tr\u017en\u00ed kapitalizace voln\u011b obchodovateln\u00fdch akci\u00ed alespo\u0148 5 milion\u016f americk\u00fdch dolar\u016f.<\/p>\n\n\n\n<p>Tr\u017en\u00ed kapitalizace voln\u011b obchodovateln\u00fdch akci\u00ed se vztahuje na tr\u017en\u00ed hodnotu akci\u00ed, kter\u00e9 jsou nab\u00edzeny k prodeji p\u0159i vstupu na burzu. Jin\u00fdmi slovy, p\u0159i vstupu na NASDAQ je nutn\u00e9 nab\u00eddnout k prodeji akcie v minim\u00e1ln\u00ed hodnot\u011b 5 milion\u016f americk\u00fdch dolar\u016f. To znamen\u00e1, \u017ee pokud je tr\u017en\u00ed kapitalizace spole\u010dnosti nap\u0159\u00edklad 20 milion\u016f americk\u00fdch dolar\u016f, mus\u00ed b\u00fdt nab\u00eddnuto 25 % akci\u00ed, zat\u00edmco u tr\u017en\u00ed kapitalizace 50 milion\u016f americk\u00fdch dolar\u016f to bude 10 %.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Vyznam_a_dalsi_aspekty_%E2%80%9Etrzni_kapitalizace%E2%80%9C_pri_vstupu_na_burzu_na_zaklade_trzni_kapitalizace\"><\/span>V\u00fdznam a dal\u0161\u00ed aspekty \u201etr\u017en\u00ed kapitalizace\u201c p\u0159i vstupu na burzu na z\u00e1klad\u011b tr\u017en\u00ed kapitalizace<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/monolith.law\/wp-content\/uploads\/2024\/08\/d9ce91a6cd03ee2c5fd27518d0a8bfb7.jpg\" alt=\"V\u00fdznam a dal\u0161\u00ed aspekty \u201etr\u017en\u00ed kapitalizace\u201c p\u0159i vstupu na burzu na z\u00e1klad\u011b tr\u017en\u00ed kapitalizace\" class=\"wp-image-88844\" \/><\/figure>\n\n\n\n<p>Krit\u00e9ria tr\u017en\u00ed kapitalizace zahrnuj\u00ed (1) tr\u017en\u00ed kapitalizaci voln\u011b obchodovateln\u00fdch akci\u00ed ve v\u00fd\u0161i 15 milion\u016f americk\u00fdch dolar\u016f a (2) tr\u017en\u00ed kapitalizaci v\u0161ech k\u00f3tovan\u00fdch cenn\u00fdch pap\u00edr\u016f ve v\u00fd\u0161i 50 milion\u016f americk\u00fdch dolar\u016f.<\/p>\n\n\n\n<p>Za prv\u00e9, (1) tr\u017en\u00ed kapitalizace k\u00f3tovan\u00fdch cenn\u00fdch pap\u00edr\u016f se vztahuje na celkovou tr\u017en\u00ed kapitalizaci v\u0161ech akci\u00ed spole\u010dnosti v dob\u011b vstupu na burzu. Nap\u0159\u00edklad, pokud spole\u010dnost vydala p\u0159ed vstupem na burzu 8,75 milionu akci\u00ed a p\u0159i vstupu na burzu vyd\u00e1 dal\u0161\u00ed 3,75 milionu akci\u00ed, celkov\u00fd po\u010det akci\u00ed po vstupu na burzu bude 8,75 milionu plus 3,75 milionu, co\u017e je 12,5 milionu akci\u00ed. Pokud je jedna akcie vyd\u00e1na za 4 americk\u00e9 dolary, tr\u017en\u00ed kapitalizace spole\u010dnosti v dob\u011b vstupu na burzu bude 4 americk\u00e9 dolary kr\u00e1t 12,5 milionu akci\u00ed, co\u017e je 50 milion\u016f americk\u00fdch dolar\u016f. To spl\u0148uje krit\u00e9rium \u201etr\u017en\u00ed kapitalizace k\u00f3tovan\u00fdch cenn\u00fdch pap\u00edr\u016f 50 milion\u016f americk\u00fdch dolar\u016f\u201c.<\/p>\n\n\n\n<p>D\u00e1le, (2) tr\u017en\u00ed kapitalizace voln\u011b obchodovateln\u00fdch akci\u00ed se, jak ji\u017e bylo uvedeno, vztahuje na tr\u017en\u00ed kapitalizaci akci\u00ed vyd\u00e1van\u00fdch p\u0159i vstupu na burzu. V p\u0159\u00edkladu v\u00fd\u0161e by tr\u017en\u00ed kapitalizace akci\u00ed vyd\u00e1van\u00fdch p\u0159i vstupu na burzu byla 4 americk\u00e9 dolary kr\u00e1t 3,75 milionu akci\u00ed, co\u017e je 15 milion\u016f americk\u00fdch dolar\u016f. To spl\u0148uje krit\u00e9rium \u201etr\u017en\u00ed kapitalizace voln\u011b obchodovateln\u00fdch akci\u00ed 15 milion\u016f americk\u00fdch dolar\u016f\u201c.<\/p>\n\n\n\n<p>Jin\u00fdmi slovy,<\/p>\n\n\n\n<ul>\n<li>je mo\u017en\u00e9 z\u00edskat 15 milion\u016f americk\u00fdch dolar\u016f z trhu (pokud se pou\u017e\u00edv\u00e1 krit\u00e9rium zisku, standard je 5 milion\u016f dolar\u016f, tak\u017ee krit\u00e9rium tr\u017en\u00ed kapitalizace je vy\u0161\u0161\u00ed)<\/li>\n\n\n\n<li>nov\u011b vyd\u00e1van\u00e9 akcie pro z\u00edsk\u00e1n\u00ed t\u011bchto prost\u0159edk\u016f tvo\u0159\u00ed m\u00e9n\u011b ne\u017e 30 % (to znamen\u00e1, \u017ee i p\u0159i takto vysok\u00e9 tr\u017en\u00ed kapitalizaci je mo\u017en\u00e9 z\u00edskat v\u00fd\u0161e uveden\u00e9 prost\u0159edky)<\/li>\n<\/ul>\n\n\n\n<p>To znamen\u00e1, \u017ee vstup na burzu na z\u00e1klad\u011b tohoto krit\u00e9ria tr\u017en\u00ed kapitalizace je mo\u017en\u00fd.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Predstaveni_opatreni_nasi_kancelare\"><\/span>P\u0159edstaven\u00ed opat\u0159en\u00ed na\u0161\u00ed kancel\u00e1\u0159e<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Pr\u00e1vn\u00ed kancel\u00e1\u0159 Monolith je firma specializuj\u00edc\u00ed se na IT, zejm\u00e9na na internet a pr\u00e1vo, kter\u00e1 poskytuje jedine\u010dn\u00e9 a efektivn\u00ed pr\u00e1vn\u00ed slu\u017eby. S bohat\u00fdmi zku\u0161enostmi a \u00fasp\u011bchy v oblasti pr\u00e1vn\u00ed podpory startup\u016f a ve spolupr\u00e1ci s mezin\u00e1rodn\u00edmi s\u00edt\u011bmi, Monolith pr\u00e1vn\u00ed kancel\u00e1\u0159 nab\u00edz\u00ed komplexn\u00ed podporu japonsk\u00fdm spole\u010dnostem p\u0159i vstupu na burzu NASDAQ. Pro v\u00edce informac\u00ed o podpo\u0159e p\u0159i vstupu na burzu NASDAQ, pros\u00edm, nav\u0161tivte n\u00e1sleduj\u00edc\u00ed \u010dl\u00e1nek.<\/p>\n\n\n\n<p>Specializace pr\u00e1vn\u00ed kancel\u00e1\u0159e Monolith: <a href=\"https:\/\/monolith.law\/nasdaqipo\" target=\"_blank\" rel=\"noreferrer noopener\">Podpora p\u0159i vstupu na burzu NASDAQ[ja]<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>V roce 2023 (\u4ee4\u548c5\u5e74) se \u0161esti japonsk\u00fdm spole\u010dnostem poda\u0159ilo vstoupit na burzu NASDAQ. M\u016f\u017eeme \u0159\u00edci, \u017ee mo\u017enost \u201ejaponsk\u00fdch spole\u010dnost\u00ed usiluj\u00edc\u00edch o vstup na NASDAQ\u201c se postupn\u011b st\u00e1v\u00e1 b\u011b\u017en\u011bj\u0161\u00ed. Av\u0161ak v [&hellip;]<\/p>\n","protected":false},"author":32,"featured_media":64792,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[16],"tags":[20,19],"acf":[],"_links":{"self":[{"href":"https:\/\/monolith.law\/cs\/wp-json\/wp\/v2\/posts\/64731"}],"collection":[{"href":"https:\/\/monolith.law\/cs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/monolith.law\/cs\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/monolith.law\/cs\/wp-json\/wp\/v2\/users\/32"}],"replies":[{"embeddable":true,"href":"https:\/\/monolith.law\/cs\/wp-json\/wp\/v2\/comments?post=64731"}],"version-history":[{"count":2,"href":"https:\/\/monolith.law\/cs\/wp-json\/wp\/v2\/posts\/64731\/revisions"}],"predecessor-version":[{"id":64793,"href":"https:\/\/monolith.law\/cs\/wp-json\/wp\/v2\/posts\/64731\/revisions\/64793"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/monolith.law\/cs\/wp-json\/wp\/v2\/media\/64792"}],"wp:attachment":[{"href":"https:\/\/monolith.law\/cs\/wp-json\/wp\/v2\/media?parent=64731"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/monolith.law\/cs\/wp-json\/wp\/v2\/categories?post=64731"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/monolith.law\/cs\/wp-json\/wp\/v2\/tags?post=64731"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}