Street Calls of the Week
Investing.com -- SKK Holdings Ltd (NASDAQ:SKK) stock rose 5.7% in after-hours trading on Friday after the company announced it received an additional 180-day extension from Nasdaq to meet the minimum bid price requirement.
The Singapore-based civil engineering service provider, which specializes in subsurface utility works, disclosed that Nasdaq has granted it until April 13, 2026, to regain compliance with the listing rule requiring a minimum bid price of $1 per share. The company had previously failed to meet this requirement during the initial compliance period that ended on October 13, 2025.
According to the announcement, SKK’s shares will continue to trade uninterrupted under the symbol "SKK" throughout the extension period. The company stated it is "currently evaluating options to regain compliance" and intends to meet Nasdaq’s continued listing requirement within the extended timeframe.
SKK Holdings initially received notification from Nasdaq on April 14, 2025, indicating that based on the closing bid price from February 28 to April 11, 2025, the company was not in compliance with Nasdaq Listing Rule 5550(a)(2).
The company cautioned that while it "will use all reasonable efforts" to achieve compliance, there is no guarantee it will succeed in regaining compliance with the minimum bid price rule or meet other Nasdaq continued listing requirements.
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