Sify Technologies Receives Nasdaq Notice Of Non-Compliance With Minimum Bid Price Rule; ADSs Below $1.00 For 31 Consecutive Days
Portfolio Pulse from Benzinga Newsdesk
Sify Technologies has received a notice of non-compliance from Nasdaq due to its American Depositary Shares (ADSs) trading below $1.00 for 31 consecutive days. This could lead to potential delisting if the company does not regain compliance.
July 24, 2024 | 12:21 pm
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Sify Technologies has been notified by Nasdaq for non-compliance with the minimum bid price rule, as its ADSs have been below $1.00 for 31 consecutive days. This poses a risk of delisting if compliance is not regained.
The notice from Nasdaq indicates that Sify Technologies' ADSs have been trading below the required $1.00 minimum bid price for 31 consecutive days. This non-compliance could lead to delisting if the company does not take corrective actions to regain compliance, which is likely to negatively impact the stock price in the short term.
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IMPORTANCE 80
RELEVANCE 100