Founder Group Faces NASDAQ Delisting Risk
Founder Group Limited received a notification from Nasdaq on February 17 stating it no longer complies with the exchange's listing rules. The company has fallen below the minimum requirement of 500,000 publicly held shares for the Nasdaq Capital Market.
- The company has until April 3, 2026, to submit a specific plan to Nasdaq outlining how it intends to regain compliance with the listing rules. This plan must detail the measures to be taken and the expected timeline for completion. - This is the second Nasdaq notification for Founder Group in recent months. In November 2025, the company received a notice for failing to meet the minimum bid price requirement of $1 per share. - To address the previous bid price deficiency, Founder Group executed a 100-for-1 reverse stock split, which became effective on February 10, 2026. This action was intended to increase the per-share trading price but has now been followed by the public float deficiency. - A significant drop in the company's share price preceded the delisting notices. The stock price fell from $1.53 on February 10, 2025, to $0.10 on February 9, 2026, representing a 93.53% decline. - Delisting from a major exchange like Nasdaq can lead to reduced liquidity and visibility for a company's stock, which may then trade on over-the-counter (OTC) markets. - Institutional ownership in Founder Group is relatively low, with eight institutional owners holding a total of 102,819 shares, according to recent filings. - Based in Malaysia, Founder Group Limited operates as an engineering, procurement, construction, and commissioning (EPCC) solutions provider for solar photovoltaic facilities. - The company completed its Initial Public Offering (IPO) on the Nasdaq Capital Market in October 2024, raising approximately $4.875 million.
