Nasdaq is moving to tighten its listing requirements, proposing new minimum thresholds for companies seeking to join the exchange.

Under the plan, new listings would be required to have a public float of at least $15 million, while Chinese companies would face a higher bar with a minimum offering size of $25 million.

Nasdaq also said firms already in the process of applying for an initial listing would be given 30 days to complete under the existing standards before the new rules take effect.