Hepsiburada Regains Compliance with Nasdaq Minimum Bid Price Requirement

Rhea-AI Summary

D-MARKET Electronic Services & Trading (Hepsiburada) announced that it has regained compliance with Nasdaq’s minimum bid price requirement of US$1.00 per share. This compliance was confirmed in a letter received on April 6, 2023, stating that for the preceding 10 consecutive business days, the closing bid price of its American depositary shares (ADSs) met or exceeded the required threshold. Nasdaq indicated that this matter is now resolved.

Hepsiburada operates as a major e-commerce platform in Türkiye, connecting over 55 million users with a vast range of products. The platform also emphasizes empowering women entrepreneurs through its initiatives, having supported approximately 42,000 women since 2017.

Positive

• Regained compliance with Nasdaq's minimum bid price requirement of US$1.00.
• Closing bid price had been at least US$1.00 for 10 consecutive business days.

Negative

• None.

ISTANBUL, Türkiye, April 11, 2023 (GLOBE NEWSWIRE) -- D-MARKET Electronic Services & Trading (d/b/a “Hepsiburada”) (NASDAQ: HEPS), a leading Turkish e-commerce platform (referred to herein as “Hepsiburada” or the “Company”), announced today that on April 6, 2023 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 10 consecutive business days prior to the receipt of the said letter, the closing bid price of the Company’s American depositary shares (“ADSs”), each representing one Class B ordinary share of the Company, had been trading 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 Türkiye, connecting over 55 million members with over 160 million SKUs in over 30 categories on its hybrid operating model where direct sales on 1P (retail) and approximately 100,000 merchants on 3P (marketplace) provide goods and services.

With its vision of leading digitalization of commerce, Hepsiburada acts as a reliable, innovative and purpose-led companion in consumers’ daily lives. Hepsiburada’s e-commerce platform provides a broad ecosystem of capabilities for merchants and consumers including: last mile delivery and fulfillment services; advertising; grocery delivery; and payment services, delivered through Hepsipay, Hepsiburada’s payment companion and BNPL solutions provider. HepsiGlobal offers selection from international merchants via its inbound arm while outbound operations aim to enable merchants in Türkiye to make cross-border sales.

Since its founding in 2000, Hepsiburada has been purpose-led, leveraging its digital capabilities to develop the role of women in the Turkish economy. Hepsiburada started the ‘Technology Empowerment for Women Entrepreneurs’ programme in 2017, which has supported approximately 42,000 female entrepreneurs throughout Türkiye reach millions of customers with their products.

Investor Relations Contact
ir@hepsiburada.com

Media Contact
corporatecommunications@hepsiburada.com
hepsiburada@brunswickgroup.com

FAQ

What did Hepsiburada announce on April 6, 2023?

Hepsiburada announced that it has regained compliance with Nasdaq's minimum bid price requirement.

What is the stock symbol for Hepsiburada?

The stock symbol for Hepsiburada is HEPS.

How many users does Hepsiburada connect with its platform?

Hepsiburada connects over 55 million members with its e-commerce platform.

What does Hepsiburada offer to its users?

Hepsiburada offers over 160 million SKUs across more than 30 categories.

What is the significance of the compliance with Nasdaq for Hepsiburada?

Regaining compliance with Nasdaq allows Hepsiburada to continue trading without the risk of delisting due to low share prices.