Hepsiburada Regains Compliance with Nasdaq Minimum Bid Price Requirement

Rhea-AI Summary

D-MARKET Electronic Services & Trading, operating as Hepsiburada (NASDAQ: HEPS), announced on August 17, 2022 that it has regained compliance with Nasdaq's minimum bid price requirement of US$1.00 per share. The company's American depositary shares achieved this closing bid price for ten consecutive business days. Nasdaq confirmed that this compliance issue is now resolved. Hepsiburada, a leading Turkish e-commerce platform, serves 44.2 million members and 82.9 thousand active merchants, offering a variety of products and services, including same-day grocery delivery.

Positive

• Regained compliance with Nasdaq's minimum bid price requirement.
• Closing bid price met the compliance standard for ten consecutive days.

Negative

• None.

ISTANBUL, Aug. 18, 2022 /PRNewswire/ -- D-MARKET Electronic Services & Trading (d/b/a "Hepsiburada") (NASDAQ: HEPS), a leading Turkish e-commerce platform ("Hepsiburada" or the "Company"), announced today that on August 17, 2022 it received a letter from the Listing Qualifications Department of The Nasdaq Stock Market LLC ("Nasdaq") indicating that the Company has regained compliance with the minimum bid price requirement of US$1.00 per share under Nasdaq Listing Rule 5450(a)(1). For the prior 10 consecutive business days, the closing bid price of the Company's American depositary shares ("ADSs"), each representing one Class B ordinary share of the Company, had been at US$1.00 per ADS or greater.  Nasdaq indicated within the letter that this matter is now closed.

About Hepsiburada

Hepsiburada is a leading e-commerce technology platform in Turkey, combining a globally proven e-commerce business model with a one-stop 'Super App' to cater to our customers' everyday needs and to help make people's daily lives better. Customers can access a broad range of products and services including same-day delivery of groceries and essentials, products from international merchants, airline tickets and payment services through our embedded digital wallet, Hepsipay. As at the end of March 2022, we had seamlessly connected 44.2 million members and 82.9 thousand Active Merchants.

Founded in Istanbul in 2000, Hepsiburada was built to lead the digitalization of commerce in Turkey. As a female-founded organization, we are committed to meaningful action to empower women. Through our 'Technology Empowerment for Women Entrepreneurs' programme, we have reached over 32 thousand female entrepreneurs across Turkey to date.

Logo - https://mma.prnewswire.com/media/1686926/Hepsiburada_Logo.jpg 

View original content:https://www.prnewswire.com/news-releases/hepsiburada-regains-compliance-with-nasdaq-minimum-bid-price-requirement-301608759.html

SOURCE Hepsiburada

FAQ

What is the recent Nasdaq compliance status for HEPS?

Hepsiburada has regained compliance with Nasdaq's minimum bid price requirement of US$1.00 as of August 17, 2022.

How long did HEPS meet the minimum bid price requirement?

Hepsiburada's American depositary shares met the minimum bid price requirement for ten consecutive business days.

What impact does Nasdaq compliance have on HEPS stock?

Regaining compliance may positively affect HEPS stock by reducing delisting risks and improving investor confidence.