JE Cleantech Holdings Limited Regains Compliance With Nasdaq Minimum Bid Price Requirement
Portfolio Pulse from Benzinga Newsdesk
JE Cleantech Holdings Limited (NASDAQ:JCSE), a Singapore-based cleantech company, has regained compliance with the Nasdaq minimum bid price requirement. The company initiated a 1-for-3 Share Consolidation, reducing the total number of authorized Ordinary Shares from 15,020,000 to 5,006,666 and increasing the par value per share. Following this, the daily closing bid price of the company's shares remained above $1.00 for ten consecutive business days, bringing the company back into compliance with Nasdaq listing standards.
November 01, 2023 | 1:26 pm
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POSITIVE IMPACT
JE Cleantech Holdings Limited has regained compliance with the Nasdaq minimum bid price requirement through a 1-for-3 Share Consolidation. This could potentially boost investor confidence in the company.
Regaining compliance with Nasdaq's minimum bid price requirement is a positive development for JE Cleantech. It indicates that the company has taken necessary measures to maintain its listing status, which could potentially boost investor confidence. The 1-for-3 Share Consolidation has effectively increased the value of the company's shares, which could have a positive impact on the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100