Monday 18 April 2016

Mol Global delisted from Nasdaq

I wrote before about Mol Global, the first Malaysian company to be listed on the Nasdaq exchange.

The company will be delisted, less than two years after its IPO. It's last traded price was USD 0.30, a 97.6% decline from it's IPO price of USD 12.50.

A good write-up including a chronology of the events that led to the delisting can be found on the website of Digital News Asia: "MOL Global’s short and bumpy Nasdaq journey".

Of interest is the last paragraph:

April 13, 2016: Announces delisting plan. Shares close at US$0.30. (Closing price on April 15: US$0.23). At such a level, this gives MOL Global a market capitalisation of US$15.5 million. In contrast and to recap, about US$75 million of the IPO proceeds went to selling shareholders.

No comments:

Post a Comment