Sify Regains Compliance With Nasdaq Minimum Bid Price Requirement

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Sify Technologies (NASDAQ:SIFY) has announced it received a letter from NASDAQ confirming it has regained compliance with the minimum bid price requirement for listing on the Nasdaq Capital Market. As quoted in the press release: In December 2016, Nasdaq had notified the Company that its common stock failed to maintain a minimum bid price of …

In December 2016, Nasdaq had notified the Company that its common stock failed to maintain a minimum bid price of $1.00 over the previous 30 consecutive business days as required by the Listing Rules of The Nasdaq Stock Market. Since then, Nasdaq has determined that from September 14 to 27, 2017, the closing bid price of the Company’s common stock has been at $1.00 per share or greater. In a letter dated September 28, 2017, Nasdaq notified Sify that it has regained compliance with Listing Rule 5550(a)(2) and the matter is now closed.

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