GreenPro Capital Regains Nasdaq Compliance

Rhea-AI Summary

Greenpro Capital Corp (NASDAQ:GRNQ), a multinational financial services company with a $7.65 million market capitalization, has announced regaining compliance with Nasdaq's Listing Rule 5550(a)(2), which requires a minimum bid price of $1.00 per share. The company received confirmation from the Nasdaq Listings Qualifications Staff regarding their adherence to the rule.

CEO and Co-Founder Dr. CK Lee expressed confidence in the company's resolution of compliance challenges and its future development in the digital finance space, emphasizing their commitment to creating long-term value for shareholders.

Positive

• Regained Nasdaq compliance, avoiding potential delisting risk
• Maintained minimum bid price requirement of $1.00 per share

Negative

• Low market capitalization of only $7.65 million indicates small company size

Insights

Financial Analyst

The regaining of Nasdaq compliance is a significant milestone for GreenPro Capital, removing an immediate delisting threat that could have severely impacted investor confidence and trading liquidity. However, with a micro-cap valuation of just $7.65 million, the company remains vulnerable to future compliance challenges. The successful maintenance of the $1.00 minimum bid price requirement likely involved corporate actions like a reverse stock split, which doesn't fundamentally change the company's financial position. While this development provides temporary stability, investors should closely monitor the company's progress in digital finance and its ability to maintain compliance, as micro-cap stocks often face recurring listing challenges.

Market Research Analyst

Meeting Nasdaq's listing requirements is important for maintaining institutional investor access and market credibility, particularly for micro-cap companies like GreenPro Capital. The compliance achievement suggests a stabilization in trading patterns, though the extremely low market capitalization indicates market interest and potential liquidity constraints. The CEO's emphasis on digital finance development hints at a strategic pivot, but without concrete details or financial metrics, the impact remains speculative. This compliance news, while positive for maintaining listing status, doesn't address fundamental business performance or growth prospects that would drive sustainable shareholder value.

KUALA LUMPUR, MALAYSIA / ACCESSWIRE / December 10, 2024 / Greenpro Capital Corp. (NASDAQ:GRNQ) a multinational financial services company with a current market capitalization of $7.65 million, announced today that is has regained compliance with Nasdaq's Listing Rule 5550(a)(2), which requires a minimum bid of price of $1.00 per share. The news follows a recent communication from the Nasdaq Listings Qualifications Staff confirming the company's adherence to the rule.

CEO and Co-Founder Dr. CK Lee, expressed confidence that the company had resolved its compliance challenges, stating, "We are now in full compliance with Nasdaq continuing listing standards after receiving this most recent letter about bid price." He added that the company looks forward to a long tenure on the Nasdaq exchange. "We are confident that our development in the digital finance space will create long term value to the company and our shareholders," he added.

About Greenpro Capital Corp

Headquartered in Kuala Lumpur and a Nevada corporation, Greenpro Capital Corp. (NASDAQ:GRNQ), is a business incubator with strategic offices across Asia. With a diversified business portfolio comprising of finance, technology, banking, and Green-X for STOs, health and wellness as well as 30 years of experience in various industries, Greenpro has been assisting and supporting businesses and High-Net-Worth-Individuals to capitalize and securitize their value on a global scale. This is done through the provision of cross-border business solutions, spinoffs on major stock exchanges and accounting outsourcing services to small and medium-size businesses located in Asia. The comprehensive range of cross-border business services includes, but are not limited to, trust and wealth management, listing advisory services, transaction services, cross-border business solutions, record management services, accounting outsourcing services and tax advisory services. Greenpro also operates venture capital businesses, including business development for start-ups and high growth companies.

For further information regarding the company, please visit http://www.greenprocapital.com.

Forward-Looking Statements

This press release contains forward-looking statements, particularly as related to, among other things, the business plans of the Company, statements relating to goals, plans and projections regarding the Company's financial position and business strategy. The words or phrases "plans," "would be," "will allow," "intends to," "may result," "are expected to," "will continue," "anticipates," "expects," "estimate," "project," "indicate," "could," "potentially," "should," "believe," "think," "considers" or similar expressions are intended to identify "forward-looking statements." These forward-looking statements fall within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934 and are subject to the safe harbor created by these sections. Actual results could differ materially from those projected in the forward-looking statements as a result of a number of risks and uncertainties. Such forward-looking statements are based on current expectations, involve known and unknown risks, a reliance on third parties for information, transactions or orders that may be cancelled, and other factors that may cause our actual results, performance or achievements, or developments in our industry, to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially from anticipated results include risks and uncertainties related to the fluctuation of local, regional, and global economic conditions, the performance of management and our employees, our ability to obtain financing, competition, general economic conditions and other factors that are detailed in our periodic reports and on documents we file from time to time with the Securities and Exchange Commission. Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date, and the Company specifically disclaims any obligation, to update any forward-looking statements to reflect occurrences, developments, unanticipated events or circumstances after the date of such statement.

GRNQ has 7,575,813 shares issued and outstanding with a float of 4,089,641 shares

Gilbert Loke, CFO, Director
Greenpro Capital Corp.
Email: ir.hk@greenprocapital.com
Phone: +852-3111 7718

Contact Dennis Burns. Investor Relations.
Tel (567) 237-4132
dburns@nvestrain.com
Phone: +603-2201 3192
mycorp@greenprocapital.com

SOURCE: Greenpro Capital Corp.

View the original press release on accesswire.com

FAQ

Why did GRNQ stock regain Nasdaq compliance in December 2024?

GRNQ regained Nasdaq compliance by meeting the minimum bid price requirement of $1.00 per share under Listing Rule 5550(a)(2), as confirmed by Nasdaq Listings Qualifications Staff.

What is Greenpro Capital's market capitalization as of December 2024?

Greenpro Capital (GRNQ) has a market capitalization of $7.65 million as of December 2024.

What Nasdaq listing requirement did GRNQ need to meet?

GRNQ needed to meet Nasdaq's Listing Rule 5550(a)(2), which requires maintaining a minimum bid price of $1.00 per share.