JA Solar faces possible delisting from Nasdaq

16/10/2012 - 12:03

(Reuters) - Debt-laden JA Solar Holdings Co Ltd said it received a warning from the Nasdaq that it could be delisted, making it the second solar company in less than a month to be put on notice by an exchange for failing to meet minimum share-price requirements.

The Chinese solar equipment maker failed to meet the exchange's criteria for continued listing as the average closing price of its American Depositary Shares was less than $1.00 over the preceding 30 trading days as of October 11, JA Solar said.

Top solar panel maker Suntech Power Holdings Co Ltd received a similar notice last month from the New York Stock Exchange.

JA Solar said it had until April 9 next year to address the stock price issue.

The company, like its rivals, has been battling anti-dumping allegations in the United States and Europe, and a steep drop in solar panel prices.

JA Solar shares closed at 80 cents on Monday. (Reporting by Divya Lad in Bangalore; Editing by Maju Samuel)