Graphjet Technology received a notice from Nasdaq regarding non-compliance with a listing rule.
The company must maintain a minimum market value of $50,000,000 for 30 consecutive trading days.
Nasdaq has requested the company to provide updates on its fundraising plans.
Nasdaq Notice
Graphjet did not meet the market value requirement set by Nasdaq, impacting its listing status.
Continued Trading
The company's ordinary shares will continue to trade on The Nasdaq Global Market under the symbol "GTI" despite the notice.
Upcoming Deadline
Graphjet is required to submit its views on the notice and update Nasdaq on fundraising plans by specific dates.
- The notice from Nasdaq raises concerns about Graphjet's compliance with listing rules.
- Investors may monitor the company's response to the notice and its fundraising plans closely.
- Non-compliance with Nasdaq listing rules could affect investor confidence and the company's market performance.
Graphjet Technology faces challenges in meeting Nasdaq listing requirements, highlighting the importance of strategic planning and financial transparency for listed companies.