SU Group Holdings Limited announced it received a delisting notice from Nasdaq on September 17, 2025, due to a deficiency in maintaining the minimum number of publicly held shares. The company's securities were scheduled for suspension from trading on September 26, 2025, unless an appeal was filed. SU Group has already appealed Nasdaq's determination to a hearings panel, which stays the suspension and delisting process.
This delisting notice follows previous notifications regarding minimum bid price and publicly held shares requirements. The company had implemented a 1-for-10 reverse stock split on July 31, 2025, to address the minimum bid price deficiency, but subsequently received the publicly held shares deficiency notice on August 27, 2025. The company submitted a compliance plan to Nasdaq staff on September 15, 2025.
SU Group intends to cure the deficiencies and will present a plan to the Panel, which includes contemplating a secondary offering on a Form F-1 registration statement to increase its publicly held shares. A delisting would result in material adverse consequences, including limited market quotations, reduced liquidity, and decreased ability to obtain financing. The outcome of the appeal is paramount for the company's public market future.
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