DelistingMay 4, 2026, 04:31 PM
TOP Financial Group Receives Nasdaq Minimum Bid Price Non-Compliance Notice
AI Summary
TOP Financial Group Ltd announced it received a notice from Nasdaq on April 28, 2026, stating that its Class A ordinary shares had traded below the minimum bid price of US$1.00 for 30 consecutive business days. The company has been granted a 180-calendar-day compliance period, until October 26, 2026, to regain compliance. During this period, the share price must close at or above US$1.00 for at least ten consecutive business days. The notification does not immediately affect the listing or trading of its shares, and the company plans to take all necessary steps to resolve the deficiency.
Key Highlights
- Received Nasdaq notice on April 28, 2026, regarding non-compliance with minimum bid price rule.
- Closing bid price of Class A Ordinary Shares was below US$1.00 for 30 consecutive business days.
- Granted a 180-calendar-day compliance period until October 26, 2026.
- Must achieve a closing bid price of US$1.00 or higher for at least ten consecutive business days.
- May be eligible for an additional 180-day compliance period if other listing standards are met.
- Company intends to take all reasonable measures to regain compliance within the grace period.
Price Impact
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