Can a company issue stock without shareholder approval? Short answer: Yes for directly, no for indirectly.Under new Listing Rule 5636T(b), no prior shareholder approval is necessary for such a transaction if the issuing company can demonstrate that:. Shareholder approval is required prior to an issuance that could result in a change of control of the issuer. Issuing new shares typically requires approval from the company's shareholders. Here are six questions to ask at the outset when your company wants to pay for an acquisition with stock. Companies can issue blank check preferred stock to raise capital and defend against hostile takeover bids.