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Magnitude International Ltd received a Staff Delisting Determination from Nasdaq on August 3, 2026, following a…
MAGHMagnitude International Ltd
Magnitude International Ltd received a Staff Delisting Determination from Nasdaq on August 3, 2026, following a trading halt initiated December 19, 2025. The delisting is based on Nasdaq Listing Rule IM-5101-4 due to potential third-party misconduct and price manipulation during an SEC-imposed suspension of trading from December 5 through December 18, 2025. Nasdaq cited insufficient liquidity and investor protection concerns as the basis for this discretionary action. The Company intends to request a hearing before a Hearings Panel under Listing Rule 5815, which will stay the delisting pending a decision. Trading remains halted until Nasdaq lifts the suspension or the panel rules otherwise. Nasdaq has not determined that the Company itself engaged in wrongdoing. This event poses significant risk to the company's market access and liquidity. Magnitude International Ltd is a mechanical and electrical engineering service provider specializing in electrical works in Singapore.