Prestige Wealth Inc. regains compliance with Nasdaq minimum bid price requirement
Prestige Wealth (PWM), a Hong Kong-based wealth and asset management services provider, has regained compliance with Nasdaq's minimum bid price requirement. The company received notice from Nasdaq on December 18, 2024, confirming its compliance with Rule 5550(a)(2) for continued listing on the Nasdaq Capital Market.
Previously, on July 23, 2024, PWM was notified of non-compliance as its Class A ordinary shares traded below $1.00 for 33 consecutive business days. To regain compliance, PWM needed to maintain a minimum closing bid price of $1.00 or higher for at least 10 consecutive business days. The company achieved this requirement between December 4-17, 2024, successfully resolving the listing compliance issue.
Prestige Wealth (PWM), un fornitore di servizi di gestione patrimoniale e di asset con sede a Hong Kong, ha riottenuto la conformità con il requisito del prezzo minimo di offerta di Nasdaq. L'azienda ha ricevuto una comunicazione da Nasdaq il 18 dicembre 2024, confermando la sua conformità alla Regola 5550(a)(2) per la continuazione della quotazione nel Nasdaq Capital Market.
In precedenza, il 23 luglio 2024, PWM era stata informata di non conformità poiché le sue azioni ordinarie di Classe A erano state scambiate a un prezzo inferiore a $1.00 per 33 giorni lavorativi consecutivi. Per riottenere la conformità, PWM doveva mantenere un prezzo di chiusura minimo di offerta di $1.00 o superiore per almeno 10 giorni lavorativi consecutivi. L'azienda ha soddisfatto questo requisito tra il 4 e il 17 dicembre 2024, risolvendo con successo il problema di conformità alla quotazione.
Prestige Wealth (PWM), un proveedor de servicios de gestión de patrimonio y activos con sede en Hong Kong, ha recuperado la conformidad con el requisito de precio mínimo de oferta de Nasdaq. La empresa recibió un aviso de Nasdaq el 18 de diciembre de 2024, confirmando su conformidad con la Regla 5550(a)(2) para continuar listado en el Nasdaq Capital Market.
Previamente, el 23 de julio de 2024, PWM fue notificada de no cumplimiento, ya que sus acciones ordinarias de Clase A se negociaron por debajo de $1.00 durante 33 días hábiles consecutivos. Para recuperar la conformidad, PWM necesitaba mantener un precio mínimo de cierre de oferta de $1.00 o superior durante al menos 10 días hábiles consecutivos. La empresa logró este requisito entre el 4 y el 17 de diciembre de 2024, resolviendo exitosamente el problema de cumplimiento del listado.
프레지지 웰스(PWM)는 홍콩에 본사를 둔 부의 관리 및 자산 관리 서비스 제공업체로, 나스닥의 최소 입찰가 요구사항을 재충족했습니다. 이 회사는 2024년 12월 18일 나스닥으로부터 나스닥 자본 시장에서 계속 상장하기 위한 5550(a)(2) 규정 준수를 확인하는 통지를 받았습니다.
이전인 2024년 7월 23일, PWM은 클래스 A 보통주가 연속적으로 33일 동안 $1.00 이하로 거래되어 비준수를 통보받았습니다. 준수를 되찾기 위해, PWM은 최소한 10일 연속으로 $1.00 이상의 최소 마감 입찰가를 유지해야 했습니다. 이 회사는 2024년 12월 4일부터 17일 사이에 이 요구 사항을 충족하여 상장 준수 문제를 성공적으로 해결했습니다.
Prestige Wealth (PWM), un fournisseur de services de gestion de patrimoine et d'actifs basé à Hong Kong, a rétabli sa conformité avec l'exigence de prix de vente minimum de Nasdaq. L'entreprise a reçu une notification de Nasdaq le 18 décembre 2024, confirmant sa conformité avec la règle 5550(a)(2) pour le maintien de la cotation sur le Nasdaq Capital Market.
Auparavant, le 23 juillet 2024, PWM avait été notifiée d'une non-conformité car ses actions ordinaires de Classe A avaient été échangées en dessous de 1,00 $ pendant 33 jours ouvrables consécutifs. Pour rétablir la conformité, PWM devait maintenir un prix d'offre de clôture minimum de 1,00 $ ou plus pendant au moins 10 jours ouvrables consécutifs. L'entreprise a satisfait à cette exigence entre le 4 et le 17 décembre 2024, résolvant avec succès le problème de conformité de la cotation.
Prestige Wealth (PWM), ein in Hongkong ansässiger Anbieter von Vermögens- und Asset-Management-Dienstleistungen, hat die Einhaltung der Mindestangebotspreisanforderungen von Nasdaq wiederhergestellt. Das Unternehmen erhielt am 18. Dezember 2024 eine Mitteilung von Nasdaq, die seine Einhaltung der Regel 5550(a)(2) für die fortgesetzte Listung am Nasdaq Capital Market bestätigte.
Zuvor, am 23. Juli 2024, wurde PWM über die Nichteinhaltung informiert, da ihre Stammaktien der Klasse A 33 aufeinanderfolgende Handelstage unter $1.00 gehandelt wurden. Um die Einhaltung wieder zu erlangen, musste PWM über mindestens 10 zusammenhängende Handelstage einen Mindestschlussangebotspreis von $1.00 oder höher aufrechterhalten. Das Unternehmen erfüllte dieses Kriterium zwischen dem 4. und 17. Dezember 2024 und löste erfolgreich das Problem der Einhaltung der Listung.
- Regained Nasdaq listing compliance, eliminating delisting risk
- Maintained share price above $1.00 for required compliance period
- Previously faced delisting risk due to share price falling below $1.00
Insights
Regaining Nasdaq compliance represents a critical development for PWM, particularly given its micro-cap status with a market cap of
The Hong Kong-based wealth management firm's ability to maintain listing requirements is important for its credibility in the competitive Asian financial services market. For micro-cap companies in the wealth management sector, Nasdaq listing status serves as a vital trust signal to potential clients and partners. While compliance restoration is positive, investors should note that maintaining the threshold price through genuine market demand, rather than artificial means like reverse stock splits, will be key for sustainable trading stability.
HONG KONG, Dec. 19, 2024 (GLOBE NEWSWIRE) -- Prestige Wealth Inc. (NASDAQ: PWM) (“PWM”, or the “Company”), a wealth management and asset management services provider based in Hong Kong, today announced that, on December 18, 2024, it received notice from The Nasdaq Stock Market LLC (“Nasdaq”) informing the Company that it has regained compliance with the minimum bid price requirement under Nasdaq Listing Rule 5550(a)(2) (the “Rule”) for continued listing on the Nasdaq Capital Market.
On July 23, 2024, PWM a notice from Nasdaq notified the Company that the minimum bid price per share of its Class A ordinary shares was below
Nasdaq Staff determined that for the 10 consecutive business days between December 4, 2024 to December 17, 2024, the closing bid price of the Company’s Class A ordinary shares has been at
About Prestige Wealth Inc.
Prestige Wealth Inc. is a wealth management and asset management services provider based in Hong Kong, assisting its clients in identifying and purchasing well-matched wealth management products and global asset management products. With a focus on quality service, the Company has retained a loyal customer base consisting of high-net-worth and ultra-high-net-worth clients in Asia. Through the Company’s wealth management service, it introduces clients to customized wealth management products and provides them with tailored value-added services. The Company provides asset management services via investment funds that it manages and also provides discretionary account management services and asset management-related advisory services to clients. For more information, please visit the Company’s website: http://ir.prestigewm.hk.
Forward-Looking Statements
Certain statements in this announcement are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company’s current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy and financial needs. Investors can find many (but not all) of these statements by the use of words such as “approximates,” “believes,” “hopes,” “expects,” “anticipates,” “estimates,” “projects,” “intends,” “plans,” “will,” “would,” “should,” “could,” “may” or other similar expressions in this prospectus. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company’s registration statement and other filings with the SEC.
For more information, please contact:
Prestige Wealth Inc.
Investor Relations Department
Email: ir@prestigefh.com
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