Pingtan Marine Enterprise Regains Compliance with NASDAQ Minimum Bid Price Requirement
Pingtan Marine Enterprise Ltd. - Ordinary Shares (PME)
NASDAQ:AMEX Investor Relations:
ptmarine.com
Company Research
Source: PR Newswire
FUZHOU, China, July 5, 2022 /PRNewswire/ -- Pingtan Marine Enterprise Ltd. (Nasdaq: PME), ("Pingtan" or the "Company"), a fishing company based in the People's Republic of China, today announced that it has received a notification letter from the Listing Qualifications Department of The Nasdaq Stock Market LLC ("Nasdaq") dated June 29, 2022, indicating that the Company has regained compliance with the minimum bid price requirement set forth in Nasdaq Listing Rule 5550(a)(2) for continued listing of its ordinary shares on the Nasdaq Capital Market.As previously announced, the Company was notified by Nasdaq on June 30, 2021 that the bid price of the Company's ordinary shares for the last 30 consecutive business days has closed below the minimum of $1.00 per share required for continued listing under Nasdaq Listing Rule 5550(a)(2).On June 29, 2022, Nasdaq provided confirmation to the Company that for the 16 consecutive business days, from June 2 to June 24, 2022, the closing bid price of
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