CIFS Receives Notice of Non-compliance with NASDAQ Continued Listing Rule 5450(a)(1)
CHINA INTERNET NATIONWIDE FINANCIAL SERVICES INC (CIFS)
US:NASDAQ Investor Relations:
prnewswire.com/news-releases/china-internet-nationwide-financial-services-inc-to-commence-trading-on-nasdaq-global-market-300500602.html
Company Research
Source: GlobeNewswire
Beijing, China, March 20, 2020 (GLOBE NEWSWIRE) -- China Internet Nationwide Financial Services, Inc. (the “Company” or Nasdaq: CIFS) received a letter from the Listing Qualifications Department of the Nasdaq Stock Market (“Nasdaq”) indicating that, the closing bid price of the Company’s ordinary shares for the last 30 consecutive business days did not meet the minimum bid price of $1.00 per share required for continued listing on The Nasdaq Global Market pursuant to Nasdaq Listing Rule 5450(a)(1). The letter also indicated that the Company will be provided with a compliance period of 180 calendar days, or until August 31,2020, in which to regain compliance pursuant to Nasdaq Listing Rule 5810(c)(3)(A). The letter further provided that if, at any time during the 180-day period, the closing bid price of the Company’s ordinary shares is at least $1.00 for a minimum of ten consecutive business days, Nasdaq will provide the Company with written confirmation that it has achieved complian
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