2023-04-03 06:12:18 ET
- Swvl ( NASDAQ: SWVL ) received written notice from The Nasdaq Stock Market that it is not in compliance with Listing Rule requiring companies listed on the Nasdaq Global Market to maintain a minimum market value of publicly held shares of $15M.
- The notice has no effect at this time on the listing of the company's ordinary shares.
- The company has been granted 180 calendar days, or until Sep.25, 2023 to regain compliance.
- It may also consider to transfer the listing of its ordinary shares to The Nasdaq Capital Market.
- Shares trading 3% down premarket.
For further details see:
Swvl receives Nasdaq non-compliance notice regarding minimum market value deficiency