13 May 2013 | News | By BioSpectrum Bureau
NASDAQ Stock Market warns pharma distributor China Jo-Jo Drugstores of delisting
Singapore: China Jo-Jo Drugstores, a retail and wholesale distributor of pharmaceutical and other healthcare products in China, has been notified by the NASDAQ Stock Market that the firm has failed to maintain a minimum closing bid price of $1 over the then preceding 30 consecutive trading days for its common stock.
The firm is required to maintain a minimum bid price by NASDAQ Listing Rule 5550(a)(2). The company has until November 5, 2013, to regain compliance in order to prevent itself from getting delisted.
The company intends to actively monitor the bid price for its common stock between now and November 5, 2013, and will consider available options to resolve the deficiency and regain compliance with the minimum bid price requirement.