SU GROUP HOLDINGS RECEIVES NASDAQ DELISTING DETERMINATION AND PLANS TO REQUEST HEARING
SU Group Holdings Limited (Nasdaq: SUGP) has received a delisting determination from Nasdaq due to its Class A ordinary shares failing to meet the minimum bid price requirement of $1.00 for 30 consecutive business days ending July 31, 2026. The company plans to request a hearing before a Nasdaq Hearings Panel within the required timeframe, which will temporarily prevent trading suspension and delay delisting proceedings until the panel's decision. To address this issue, SU Group has approved an additional share consolidation at a ratio of 1-for-5, expected to take effect on August 6, 2026. If successful in raising the bid price above $1.00 for the required period under Nasdaq rules, it may regain compliance and avoid proceeding with the hearing. However, there is no guarantee that this consolidation will result in sustained compliance or prevent delisting. The company intends to submit a plan during its hearing request outlining how it aims to meet continued listing requirements.
Topics: compliance delisting nasdaq reverse stock split