Star Bulk Regains Nasdaq Minimum Share Price Compliance

Image Courtesy: Star Bulk

Athens-based dry bulk shipping company Star Bulk Carriers Corp. has regained compliance with the Nasdaq minimum bid price requirement of USD 1 per common share on the Nasdaq Global Select Market.

Nasdaq Listing Qualifications Department confirmed this on July 6 in a letter addressed to Star Bulk.

The Nasdaq Listing Rule 5450 says that a company which has its primary equity security listed on the global market must continue to substantially meet all of the requirements set forth in this rule.

According to the first standard (a) – continued listing requirements for primary equity securities – the minimum bid price of the Star Bulk’s stock is USD 1 per share.

The company breached the rule in January this year and had 180 days to regain compliance. In order to regain compliance, Nasdaq’s requirement for the company was that its bid price is at or above USD 1 per share for a minimum of ten consecutive days.

Star Bulk’s net loss reached USD 48.8 million in the first quarter of this year, against a net loss of USD 40.2 million seen in 2015, as the company marked its worst quarter in the last thirty years.

Share this article

Follow World Maritime News

In Depth>

Events>

<< Dec 2017 >>
MTWTFSS
27 28 29 30 1 2 3
4 5 6 7 8 9 10
11 12 13 14 15 16 17
18 19 20 21 22 23 24
25 26 27 28 29 30 31

APM – ASIA PACIFIC MARITIME 2018

27 years in the making, APM is the premier shipbuilding & marine, workboat and offshore exhibition in Asia trusted by generations of industry professionals.

read more >

Mega Cargo Show 2018

The focus of the event is to bring all connected with cargo fraternity on a single platform…

read more >

Vietship 2018

Vietship is the largest and longest established exhibition in Vietnam featuring all aspect of Shipbuilding, Shipping and Offshore Technology.

Since its first event in 2002, Vietship has become the convergence and platform of advanced technologies regional and worldwide in shipbuilding and ship repair, marine equipment, waterway transportation and services, marine and offshore engineering.

After 16 years of eight consecutive editions, Vietship has affirm itself as an important event in enhancing cooperation and development, attracting investments, exchanging technology and creating ideal opportunities for trade promotion in the international maritime industry.

More info

read more >

LNG Bunkering Summit 2018

The conference will cover the obstacles facing both the shipping and port communities, exploring developments in conversion and new builds…

read more >