Kaixin Auto Holdings (KXIN.US) temporarily granted Nasdaq exemption, plans reverse stock split to re-comply with minimum stock price requirements.

13/09/2024

Happy Car has received a temporary exemption from the Nasdaq stock market in order to comply with the minimum purchase price requirement in its listing rules.

Chinese new energy vehicle manufacturer Kaixin Auto Holdings (KXIN.US) has been granted temporary relief by the Nasdaq stock market to reestablish compliance with the minimum bid price requirement in its listing rules. The company is planning to hold a special shareholder meeting on October 1, 2024, to obtain approval from shareholders for a reverse stock split plan. The objective of this plan is to complete the stock split by November 30, 2024, and ensure compliance with Nasdaq's bid price rules by December 13, 2024. If Kaixin Auto Holdings fails to regain compliance by this deadline, its securities may face the risk of delisting.

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HK Stock Market Move | AKESO (09926) rose more than 7% in early trading. The company's first dual-immune ADC drug AK146D1 entered clinical trials.

HK Stock Market Move | SIMCERE PHARMA(02096) rises more than 3%. The new generation of anti-VEGF monoclonal antibody "Suvixitumab monoclonal antibody" has been approved for listing.

HK Stock Market Move | Gambling stocks continue to rise, Macau's gambling revenue in June exceeded expectations, Citigroup expects the growth momentum to continue in the second half of the year.