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HONG KONG - mF International Limited (Nasdaq: MFI), a provider of financial trading solutions, has received an additional 180-day period to meet Nasdaq’s minimum bid price rule for continued listing. Currently trading at $0.70 and showing a significant decline of 94% over the past year according to InvestingPro data, the company faces challenges meeting the listing requirements. The company, which had previously been granted 180 days until January 28, 2025, to comply with the $1.00 bid price requirement, now has until July 28, 2025, to ensure its Class A ordinary shares maintain a closing bid price of at least $1.00 for a minimum of 10 consecutive business days.
The initial notification from Nasdaq, dated August 1, 2024, was issued after the company’s shares closed below the $1.00 threshold for 30 consecutive business days. Despite the extension, mF International has yet to regain compliance. With a market capitalization of just $9.28 million and a WEAK financial health score according to InvestingPro analysis, the company faces significant challenges. Should the company fail to meet the requirement by the new deadline, it faces the risk of delisting.
mF International has stated its intention to monitor its share price closely and is exploring options to achieve compliance. The company has emphasized that the extension notice does not impact its business operations, SEC reporting requirements, or contractual obligations.
Based in the British Virgin Islands, mF International operates through three subsidiaries in Hong Kong, with m-FINANCE Limited being the primary entity. m-FINANCE boasts nearly two decades of experience in providing real-time forex and commodities trading solutions, as well as various financial services and software as a service (SaaS) platforms to brokers and institutional clients across mainland China, Hong Kong, and Southeast Asia.
This development is based on a press release statement from mF International Limited.
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