Selangor -- Founder Group Limited (Nasdaq: FGL) has until November 2, 2026, to submit a plan to Nasdaq's staff for regaining compliance after the exchange found the company no longer meets the minimum of 500,000 publicly held shares required for continued listing.
Nasdaq cites Listing Rule 5550(a)(4) in a September 16 letter
The Listing Qualifications Department of Nasdaq Stock Market LLC sent the notification on September 16, 2026. The letter states that FGL no longer satisfies the publicly held shares requirement under Nasdaq Listing Rule 5550(a)(4) for the Nasdaq Capital Market. As a result, the company does not comply with the Listing Rules for continued listing.
Class A ordinary shares keep trading while the deadline runs
The notification has no immediate effect on the listing or trading of FGL's Class A ordinary shares.
Within the deadline, the company must give Nasdaq's staff a specific plan to achieve and sustain compliance with all Nasdaq Capital Market listing requirements. The plan must include a time frame for completion. FGL said it intends to submit the plan within the required period.