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NEW YORK - The Nasdaq Stock Market announced today that trading of Ostin Technology Group Co., Ltd. was halted at 12:24:23 Eastern Time, pending the company’s response to a request for additional information.
Trading of the ordinary shares, which last traded at $1.695, will remain suspended until Ostin Technology Group has "fully satisfied Nasdaq’s request for additional information," according to a press release statement.
Nasdaq did not specify the nature of the information requested from the company or provide a timeline for when trading might resume.
Ostin Technology Group is listed on the Nasdaq exchange under its own symbol. The trading halt was implemented under Nasdaq’s standard procedures for situations requiring clarification from listed companies.
The Nasdaq Stock Market, operated by Nasdaq, Inc. (NASDAQ:NDAQ), regularly monitors compliance of listed companies and may request additional information as part of its market oversight responsibilities.
In other recent news, Pattern is targeting a valuation of up to $2.64 billion in its upcoming initial public offering in the United States. The company plans to offer 21.4 million shares, priced between $13 and $15 each, potentially raising up to $321 million. Meanwhile, Gemini Space Station Inc. has secured an investment of up to $50 million from Nasdaq, which will occur through a private placement of shares at the time of Gemini’s IPO. Additionally, Nasdaq Ventures has made a strategic investment in Juniper Square to support the development of integrated data and liquidity solutions for private fund managers. This collaboration aims to enhance general partner visibility and improve liquidity in private markets. Moreover, Nasdaq has proposed new enhancements to its listing standards to boost market integrity. The proposed changes include a $15 million minimum market value requirement for public float and stricter requirements for companies primarily operating in China. These developments reflect ongoing efforts to refine market practices and investment opportunities.
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