JA Solar faces possible delisting from Nasdaq
Oct 16 (Reuters) - Debt-laden JA Solar Holdings Co Ltd said it received a warning from the Nasdaq that it could be delisted, making it the second solar company in less than a month to be put on notice by an exchange for failing to meet minimum share-price requirements.
The Chinese solar equipment maker failed to meet the exchange's criteria for continued listing as the average closing price of its American Depositary Shares was less than $1.00 over the preceding 30 trading days as of Oct. 11, JA Solar said.
Top solar panel maker Suntech Power Holdings Co Ltd received a similar notice last month from the New York Stock Exchange.
JA Solar said it had until April 9 next year to address the stock price issue.
The company, like its rivals, has been battling anti-dumping allegations in the United States and Europe, and a steep drop in solar panel prices.
JA Solar shares closed at 80 cents on Monday.
- Special Report: Where Ukraine's separatists get their weapons
- Israel knocks out Gaza power plant, digs in for long fight |
- U.S. says Russia violated nuclear treaty, urges immediate talks
- Dozens killed in fierce fighting in eastern Ukraine
- Nigeria isolates hospital in Lagos as Obama briefed on Ebola outbreak