NaaS Technology Inc. Regains Compliance with Nasdaq Listing Rule 5550(a)(2) after Meeting Minimum Bid Price Requirement for Ten Consecutive Business Days”.
NaaS Technology Inc. (Nasdaq: NaaS) has regained compliance with the Nasdaq Listing Rule 5550(a)(2) (Minimum Bid Price Requirement) after receiving a Compliance Notice from the Nasdaq Stock Market Inc. The notice, dated June 28, 2024, confirmed that the closing bid price of the company’s American depositary shares (ADSs) had been at $1.00 per ADS or greater for ten consecutive business days from June 13 through June 27, 2024.
The first U.S. listed EV charging service company in China, NaaS Technology Inc., is a subsidiary of Newlinks Technology Limited, a leading energy digitalization group in China. The company provides comprehensive solutions to energy asset owners, including charging services, energy solutions, and new initiatives that support energy asset lifecycle management and facilitate energy transition.
NaaS Technology Inc.’s growth and success in the EV charging service industry were marked by an earlier Deficiency Notice from Nasdaq in early June. The notice indicated that the closing bid price for the company’s ADSs had fallen below the minimum bid price of $1.00 for 30 consecutive business days as required by Nasdaq Listing Rule 5550(a)(2). However, this milestone was achieved after ten consecutive business days of meeting the requirement, which allowed NaaS Technology Inc. to regain compliance with Nasdaq’s rules and regulations.
Investors and media can contact NaaS Technology Inc. via email at ir@enaas.com for investor relations and pr@enaas.com for media inquiries as this announcement marks an important step forward for NaaS Technology Inc.’s continued growth and success in the EV charging service industry.
In conclusion, NaaS Technology Inc.’s regaining compliance with Nasdaq’s Listing Rule 5550(a)(2) is an important milestone that signifies its commitment to meeting the requirements set forth by NASDAQ stock market inc., as it continues to grow and thrive in the EV charging service industry.
