Nasdaq said that China Lending Corp.'s shares will be delisted from the exchange.
The company had appealed the determination to delist its shares to the Nasdaq Hearings Panel, but the appeal was denied. Nasdaq said the company's shares are expected to be delisted from the Nasdaq Capital Market on Sept. 6.
In July, Nasdaq informed China Lending that it would be delisted due to its noncompliance with listing requirements of a minimum of US$2.5 million in stockholders' equity.
China Lending said it expects its securities to be quoted on the OTC Pink Open Market following the Nasdaq delisting. Its trading symbol will remain unchanged.
