Core Points - Smart Share Global Limited, also known as Energy Monster, has received approval from Nasdaq to transfer its listing from the Nasdaq Global Select Market to the Nasdaq Capital Market, effective December 22, 2023 [1] - The transfer follows a notification from Nasdaq regarding non-compliance with the minimum bid price requirement, as the closing bid price of the American depositary shares (ADSs) had been below US$1.00 for 30 consecutive business days [2] - Nasdaq has granted the company an additional 180-day period until June 17, 2024, to regain compliance with the minimum bid price requirement [3] Company Overview - Smart Share Global Limited is the largest provider of mobile device charging services in China, holding the number one market share [5] - The company operates a network of power banks available at various points of interest (POIs) such as entertainment venues, restaurants, and public spaces, with 8.7 million power banks deployed across 1,189,000 POIs in over 2,000 counties as of September 30, 2023 [5]
Smart Share Global Limited Receives Approval to Transfer to Nasdaq Capital Market and Extension of Minimum Bid Price Compliance Period