JA Solar Receives Letter from NASDAQ Indicating Compliance with Minimum Bid Price Rule
JA Solar (NaASDAQ: JASO) today announced that it has received a letter dated December 27, 2012 from NASDAQ Stock Market LLC ("NASDAQ") notifying the Company that it has regained compliance with the minimum bid price of $1.00 per share requirement for continued listing set forth in NASDAQ Listing Rule 5450(a)(1) (the "Listing Rule").
On October 11, 2012, NASDAQ notified the Company that, based upon the closing bid price of the Company's American Depositary Shares ("ADS") for 30 consecutive business days, the Company no longer met the $1.00 per share minimum bid price requirement set forth in the Listing Rule. The Company was provided with a period of 180 calendar days, or until April 9, 2013, to regain compliance.
In the December 27, 2012 letter, NASDAQ informed the Company that it had determined that for the previous 10 consecutive business days, from December 10, 2012 to December 26, 2012, the closing bid price of the Company's ADSs had been at $1.00 per share or greater. Accordingly, the Company has regained compliance with the Listing Rule.