, a digital real estate transaction service provider, is at risk of delisting from the Nasdaq stock exchange after receiving a notice of non-compliance with Nasdaq’s minimum bid price rule.){kind=link}
Fangdd Network Group Ltd. (NASDAQ: DUO), a digital real estate transaction service provider, is at risk of delisting from the Nasdaq stock exchange after receiving a notice of non-compliance with Nasdaq’s minimum bid price rule.
According to a filing with the Nasdaq Stock Market, Fangdd’s Class A ordinary shares have been trading below the $1 minimum bid price requirement for 30 consecutive business days, from November 11 to December 23, 2024.
Nasdaq’s rules state that companies must maintain a minimum closing bid price of $1 per share for at least 30 consecutive business days to remain in compliance.
In response to the notification, Fangdd now has until June 23, 2025, to regain compliance by ensuring that its stock closes at $1 or higher for at least ten consecutive business days.
If the company fails to meet this requirement within the 180-day period, it may be granted an additional 180-day period, provided it meets other listing criteria and notifies Nasdaq of its intent to cure the deficiency.
This delisting risk comes after Fangdd announced in September 2024 that it would voluntarily delist its American Depositary Shares (ADSs) from Nasdaq.
The company intends to list its Class A ordinary shares directly on the exchange, a transition that became effective on September 30, 2024. Despite the Nasdaq delisting risk, this change is unrelated to the current non-compliance issue.
Fangdd, which specializes in offering digital real estate transaction services utilizing mobile internet, cloud computing, big data, and AI technologies, has not made any public statements on the matter as of yet.
Investors and analysts are closely watching the company’s next steps as it navigates the Nasdaq’s listing requirements and attempts to regain compliance.
The notice of non-compliance has not yet impacted the listing or trading of Fangdd’s shares on Nasdaq, but the company faces significant pressure to address the situation before the deadline in June 2025.
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