Republic Power Group Ltd. (NASDAQ:RPGL) shares jumped 34.83% to $2.40 in after-hours trading Wednesday after the Singapore-based IT holding firm announced it had resolved a Nasdaq listing compliance issue.
Shares Rally on Regulatory Clearance
The news had an immediate impact on the stock’s performance, as the late-session surge reversed an intraday decline of 3.26%, which had pushed RPGL stock to close at $1.78.
Republic Power Group, after the markets closed on Wednesday, announced that Nasdaq Stock Market LLC notified the company on Jun. 30 that it regained compliance with the minimum bid price requirement under Listing Rule 5550(a)(2).
The company added that Nasdaq has closed the matter. Republic Power had received a delinquency notice in January.