Listing

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Extract of a BASIC lisitng
Extract of a BASIC lisitng

A listing is a printed list of lines of computer code or digital data (in human-readable form). In the early days of programming, it was used to hand-check a program and as permanent storage. Today, it is seldom used because display screens can present more lines than formerly, programs tend to be modular, storage in soft copy is considered preferable to hard copy, and digital material is easily transmitted via networks, or on disks or tapes. Furthermore, data sets tend to be too large to be conveniently put on paper, and they are more easily searched in soft-copy form. In selected environments, such as classified or other highly secure documentation, listings may still be used for secure transmission or storage.

The word is also the gerund of the verb "to list" as used in nautical matters.

In corporate finance, a listing refers to the company's shares being on the list (or board) of stocks that are officially traded on a stock exchange. Normally the issuing company is the one that applies for a listing (=gets a listing), but in some countries the exchange can list a company, for instance because its stock is already being actively traded via informal channels. Initial listing requirements usually include a history of a few years of financial statements (not required for "alternative" markets targeting young firms); a sufficient size of the amount being placed among the general public (the free float), both in absolute terms and as a percentage of the total outstanding stock; an approved prospectus, usually including opinions from independent assessors, and so on. Stocks whose market value and/or turnover fall below critical levels can get officially delisted; delisting is often the result of a merger or take-over, or the firm going private.



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