Online travel aggregator Yatra received a letter from the Nasdaq stock market notifying the company has not maintained a minimum closing bid price of $1 per share for the past 30 business days.
According to Nasdaq listing rules, listed companies have to comply with a minimum bid price of $1 per share. If a company fails to maintain this minimum bid price requirement for 30 consecutive business days, a notification letter is issued to the company as in the case of Yatra.
Yatra is now given an initial period of 180 calendar days (till January 25, 2021) to regain compliance with the minimum bid price requirement. If Yatra’s ordinary shares close at $1 or more for at least 10 consecutive business days before January 25, then the company will be considered compliant with the minimum bid price requirement and the shares will continue to be eligible for listing on the Nasdaq capital market.