Saturday, May 4, 2013

JA Solar Faces Possible Delisting from Nasdaq

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.

Source: http://www.reuters.com/article/2012/10/16/jasolar-nasdaqnotice-idUSL3E8LG38R20121016

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