Globavend regains compliance with Nasdaq price rules
- Globavend Holdings Limited received a notification letter from Nasdaq that confirms its compliance with minimum bid price requirements.
- The company maintained a closing bid price of at least $1.00 per ordinary share for ten consecutive business days.
- This compliance allows Globavend to continue trading on Nasdaq, ensuring investor confidence and market stability.
Globavend Holdings Limited, an e-commerce logistics provider based in Australia, announced on May 23, 2025, that it received a Notification Letter from Nasdaq. This letter confirmed that the company had regained compliance with the minimum bid price requirement, which mandates that companies maintain a minimum closing bid price of $1.00 per ordinary share. From May 9 to May 22, 2025, Globavend achieved a closing bid price at or above this threshold for ten consecutive business days. The successful compliance meant that the listing matter was closed and the ordinary shares continued trading on Nasdaq under the symbol 'GVH.' This turnaround is significant for the company, as it reinforces investor confidence and stabilizes its market presence after previously facing delisting risks.