MoneyHero Back In Nasdaq Compliance After Share Price Recovery

KUALA LUMPUR, July 22 (Bernama) -- MoneyHero Limited (MoneyHero) announced it has regained compliance with the Nasdaq Stock Market LLC (Nasdaq)’s minimum bid price requirement, according to a written notice from the Nasdaq dated July 17.

MoneyHero in a statement said the company had previously fallen out of compliance on April 7, when its stock traded below US$1.00 for 30 consecutive business days, triggering a formal deficiency notice under Nasdaq Listing Rule 5450(a)(1). (US$1=RM4.22)

Nasdaq confirmed that MoneyHero met the requirement after its stock closed at or above US$1.00 per share for 10 consecutive business days, from July 2 to July 16. As a result, the matter is now considered closed.

The compliance notice is expected to reduce near-term delisting risks for the company.

MoneyHero has not publicly disclosed any structural changes, it is possible that the company’s share price improvement was supported by trading momentum or market sentiment.

The company, known for its suite of digital tools helping consumers compare financial products, continues to expand its footprint across Greater Southeast Asia with a focus on user acquisition and insurance brokerage services.

-- BERNAMA