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3.2 - How many shares must be sold for a company to float?

1761, 1827 Jr., 1829, 1830, 1830Lummerland, 1830NL, 1832, 1834, 1837SX, 1848, 1850, 1862, 1859, 1865 Sardinia, 1868, 1869 The Golden Spike, 1869 USA West, 1873, 1876 v2, 1876-30, 1876-30 v2, 1879, 1895, 1899, 18AL, 18C2C, 18Chesapeake, 18EC, 18GA, 18GA v2, 18GM, 18JP-T, 18Kaas, 18MS, 18MW, 18NL, 18SS, 18SY-G 60%.
1800, 1824, 1826, 1835, 1837, 1838 Rheinland, 1842, 1844, 1847, 1847AE, 1851, 1854, 1857, 1860, 1862EA, 1862EA v2, 1876-35, 1876-35 v2, 1889, 1893, 18BL, 18CZ, 18EU, 18EZ Levels 2 and 3, 18GL, 18IN, 18Lilliput, 18Mex, 18PA, 18Rhl Rhineland, 18Ruhr, Railroad Barons, Rolling Stock 50%.
1812, 1846, 1849, 1861, 1867, 1883, 18SY-O 20%.
1817, 18USA The President's certificate.
1822 Initially 20% (10% for the LNWR) when converting a concession. From phase 5, 50%.
1822CA Initially 20% (10% for the CPR) when converting a concession. From phase 5, 50%.
1824, 1824 v2 50% for regional railways and 20% for Staatsbahnen.
1825 60% for a major company, 40% for a minor company.
1829 Mainline, 18Africa The Director's certificate, or three ordinary certificates.
1830 Cardgame One.
1830BC 6 (variable percentage).
1831 50% (all preferred stock).
1841, 1898 20% (40% of a minor).
1853 3 or 4 players, 60%; 5 or 6 players, 50%.
1853 v2 3 players, 60%; 4 or 5 players, 50%; 6 players, 40%.
1856, 1891 Depends on the type of the train currently for sale.
1858 40% of a 5-share company, 20% of a 10-share company.
1870 60%; but 20% for the SLSF.
1880 The qualifying number of shares depends on the phase. From Phase A1 (the start of the game) it is 20%, from B1 it is 30%, from B3 it is 40% and from C2 it is 60%.
1881 5 certificates. This is 60% for tramway companies, 30% for the S-Bahn.
18?? 60%; but 30% for any company started by the Grand Junction Investors private.
18Ardennes, 18SA 30%.
18CLE 60%, except for the CSC, which floats at 20%. Rule 3.3.3 refers generally to a company as 'floated' when the 20% President's certificate has been bought - this should say 'started' or 'formed'.
18Dixie 50%, but 20% for the SAL and SOU if the President's certificates are obtained via the purchase of the GAR or SCCRRC private companies respectively.
18EZ Level 1 Not Applicable (no share dealing).
18FL, 18NW 60% for five-share companies, 50% for ten-share companies.
18GB 40% in the yellow phase; 60% thereafter. No companies may be started in the grey phase.
18Ireland 40% for a 5-share company, 20% for a 10-share company, i.e. just the director's certificate in both cases.
18Neb 20% (40% of a Local Company).
18NK 60%; but 20% for the DRM.
18NY Dependent on the current game phase (see section 12).
18NYC 50% for Lies, 10% for the NYCTA.
18OE For minors, 100%. For regionals, 20%.
18Scan Depends on the current phase number.
18TN 60%, but only 20% for the L&N.
18US For an Eastern (4-share) company, the President's certificate. For a Land Grant (5-share) company, the President's certificate and one other certificate.
18VA 20% for ten-share companies, 40% for five-share companies (one certificate in each case).
18West The President's certificate. The v2.3 retuned rules clarify that after phase 6 begins, five shares must be bought to start a public company.
2038 50%; but 20% for growth companies.
Crisis 50% for type I companies, 60% for type II companies.
Poseidon At least 50% (rounded up) of the Merchants placed in the bank pool by the player who bought the nation's King card.
Steam Over Holland A number of shares equal to the current phase number, which have to be bought as one purchase.

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© Keith Thomasson May 30th 2020