MingZhu Logistics receives Nasdaq delisting notice

MingZhu Logistics (YGMZ) announced that on October 20, it received a letter from Nasdaq notifying the company that the staff has determined to delist its ordinary shares. The delisting determination was made because the bid price of the company’s listed securities has closed at less than $1 per share over the previous 30 consecutive business days. The company has until October 27 to request an appeal to a hearing panel and intends to do so, which will stay the suspension of its securities. The company is considering all potential options available to it to regain compliance with the aforementioned rules, including effectuating a reverse stock split.