Founder Group Limited Receives NASDAQ Non-Compliance Notice
Founder Group Limited (FGL) announced it received a notification letter from Nasdaq on February 17, 2026. The letter states the company is no longer in compliance with the Nasdaq Capital Market's listing rules. The deficiency is due to the company failing to meet the minimum 500,000 publicly held shares requirement.
- This is the second Nasdaq non-compliance notice for the company in recent months; it received a notification in November 2025 for failing to meet the minimum bid price requirement. - The company has until April 3, 2026, to submit a plan to Nasdaq outlining how it intends to regain compliance with the listing requirements. - Just before the notification, the company announced a 1-for-100 reverse stock split on February 6, 2026, a move often used to increase a company's share price. - The stock has experienced a significant downturn, with its price falling by more than 93% over the past year. - Based in Klang, Malaysia, Founder Group Limited was founded in 2021 and specializes in providing engineering, procurement, and construction services for solar power projects. - The company's financial metrics indicate potential distress; its Altman Z-Score is 1.68, where a score below 3 suggests an increased risk of bankruptcy.
