Garden Stage Limited (GSIW), a Hong Kong-based financial services provider, announced it received a notification from the Nasdaq Stock Market LLC. The notification cited the company’s failure to meet the minimum bid price requirement for continued listing on the Nasdaq Capital Market.
The company’s ordinary shares traded below $1.00 per share for 30 consecutive business days, violating Nasdaq Listing Rule 5550(a)(2). This rule mandates a minimum bid price of $1.00 per share.
GSIW has been given 180 calendar days, until March 4, 2026, to regain compliance. During this period, trading of GSIW shares on Nasdaq will continue as usual.
The company must achieve a closing bid price at or above $1.00 per share for ten consecutive business days before March 4, 2026 to avoid delisting. Nasdaq will then issue written confirmation of compliance.
If GSIW fails to meet the requirement by March 4, 2026, it may be eligible for an extension. This extension requires meeting other listing standards on the Nasdaq Capital Market, excluding the minimum bid price. The company would also need to notify Nasdaq of its intent to rectify the issue.
Garden Stage Limited operates through its subsidiaries, I Win Securities Limited and I Win Asset Management Limited. These subsidiaries provide a range of financial services including securities dealing, brokerage, asset management, and investment advisory services in Hong Kong. I Win Securities Limited is a stock exchange participant and holds a stock exchange trading right.
The company’s announcement included a safe harbor statement, noting that certain statements are forward-looking and subject to inherent risks and uncertainties. Investors should refer to the company’s filings with the Securities and Exchange Commission for more detailed information on these risks. The company is not obligated to update the information unless required by law.
The company’s chief executive officer, Chan Sze Ho, is available for further inquiries.
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