Founder Group gets Nasdaq notice over minimum share requirement

Founder Group Limited (NASDAQ: FGL) received a notification from Nasdaq on September 16, 2026, stating that the company no longer meets the minimum 500,000 publicly held shares requirement under Nasdaq Listing Rule 5550(a)(4) for the Nasdaq Capital Market.

According to a press release, the notification does not have an immediate effect on the listing or trading of the company's Class A ordinary shares. The company has until November 2, 2026, to submit a specific plan to Nasdaq's Listing Qualifications Department outlining how it intends to achieve and sustain compliance with all Nasdaq Capital Market listing requirements, including a proposed timeline. The company stated it intends to submit such a plan within the required timeframe.

Founder Group Limited is a Malaysia-based provider of engineering, procurement, construction, and commissioning solutions for solar photovoltaic facilities, with operations focused on large-scale solar projects and commercial and industrial solar projects.

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