ION expands ETF trading capabilities with Tradeweb integration
SINGAPORE - Springview Holdings Ltd (NASDAQ:SPHL) will have its Class A ordinary shares suspended from trading on Nasdaq beginning November 4, 2025, following the company's failure to maintain the required minimum bid price of $1.00 per share. The company's stock is currently trading at $0.55, after experiencing a dramatic 90% decline year-to-date, according to InvestingPro data.
The Singapore-based construction firm received a Staff Delisting Determination from Nasdaq on October 24 after failing to regain compliance with Listing Rule 5550(a)(2) during the 180-day compliance period that began April 25, according to a company press release. Despite a significant 47% price recovery over the past six months, the stock remains well below its 52-week high of $7.80.
Springview has appealed the determination to a Hearings Panel, with hearings typically scheduled 30-45 days after the request. The company stated it "will use all reasonable efforts to regain compliance" but acknowledged there is "no assurance" it will succeed.
The initial notification came after Springview's shares traded below $1.00 for 30 consecutive business days prior to April 25. The company was given until October 22 to meet the minimum bid price requirement but failed to do so.
Springview Holdings, which has operated since 2002, specializes in residential and commercial building construction in Singapore, offering services including new construction, reconstruction, additions, alterations, and general contracting.
The information is based on a press release statement issued by the company.
In other recent news, Springview Holdings Ltd disclosed that it has received a Staff Delisting Determination from the Nasdaq Stock Market. This follows the company's failure to meet the minimum bid price requirement under Nasdaq Listing Rule 5550(a)(2). The Nasdaq Listing Qualifications Department informed Springview Holdings that its Class A ordinary shares had closed below $1.00 per share for 30 consecutive business days. As a result, the company is not in compliance with the exchange’s continued listing standards. Springview Holdings has been given a 180-day period, ending on October 22, to regain compliance. This development was announced in a statement based on a recent SEC filing. Investors will be closely monitoring the company's actions to address this issue.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.