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GigaMedia faces NASDAQ delisting

Taiwanese firm has 180 days to raise its share price above $1 for a sustained period

GigaMedia Limited has received a delisting notice from the NASDAQ, after its common stock price fell below $1 for 30 consecutive business days.

The Taiwanese online game company issued a statement today confirming that the 30 day period in question led up to January 14, 2015. The letter from NASDAQ is standard practice, and it triggers a period of 180 days in which GigaMedia can comply with the Minimum Bid Price Rule.

In order to do that, GigaMedia's share price must rise to $1 or more and stay there for a minimum of 10 consecutive business days. At the close of trading yesterday, the company's shares were trading at .82 cents.

Back in April 2013, GigaMedia made two high-level appointments ahead of a push to expand its business in China. Even then, it's share price was trading at little more than $1, reaching a high of $1.72 in May of the following year.

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Matthew Handrahan avatar
Matthew Handrahan: Matthew Handrahan joined GamesIndustry in 2011, bringing long-form feature-writing experience to the team as well as a deep understanding of the video game development business. He previously spent more than five years at award-winning magazine gamesTM.
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