JA Solar gets Nasdaq note of minimum bid price non-compliance
Oct 16, 2012 - Chinese solar equipment maker JA Solar Holdings Co Ltd (NASDAQ:JASO) today said it had been informed by the Nasdaq Stock Market LLC that it no longer met the exchange's minimum bid price rule.
Тhe closing bid price of JA Solar's American Depositary Shares (ADS) for 30 consecutive business days has been below the minimum of USD 1, the notice says. JA Solar received the notification on October 11.
The company has been given 180 days until April 9, 2013 to regain compliance with the rule. It would do so if at any point within this period, the bid price of its ADSs closes at USD 1 or above for at least 10 consecutive business days.
JA Solar said it was currently complaint with Nasdaq's all other quantitative standards for continued listing and planned to take measures to rectify the deficiency by the prescribed deadline.