Anghami Receives Nasdaq Minimum Market Value Deficiency Notification
Portfolio Pulse from Benzinga Newsdesk
Anghami Inc. (NASDAQ:ANGH), a leading streaming platform in the Middle East and North Africa, has received a notification from Nasdaq for not complying with the minimum Market Value of Publicly Held Shares (MVPHS) requirement. The company has until April 8, 2024, to regain compliance by maintaining a minimum market value of publicly held shares of $15,000,000 for at least 10 consecutive business days. If the company fails to regain compliance, its securities may be delisted from Nasdaq.
October 17, 2023 | 12:33 pm
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Anghami Inc. is at risk of being delisted from Nasdaq if it fails to meet the minimum MVPHS requirement by April 8, 2024. This could potentially impact the company's stock price and investor confidence.
The news of Anghami Inc. not meeting the minimum MVPHS requirement could lead to investor uncertainty and potentially negatively impact the company's stock price. If the company fails to regain compliance by the given deadline, it could face delisting from Nasdaq, which would further impact its stock price and investor confidence.
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