Sino-Global Shipping America has regained its Nasdaq compliance, which had been in jeopardy because of the low price of its common shares.
The shipping, chartering and logistics company’s stocks continued appearance on the board of the world’s second largest stock exchange was achieved by an improved pricing of the stock.
New York-based Sino-Global had been cautioned by Nasdaq in November 2015 because its common stock had closed at below $1 per share for 30 successive days, in violation of the exchange’s minimum bid price rule.
But recent improvements that saw the closing bid price above $1 for 10 consecutive days from July 1 to August 3 earned the company official notification that it was back in compliance.
