America Online Latin America Inc. has received a letter from the Nasdaq stock exchange saying it no longer meets the requirement for listing, according to Reuters.
The company, backed by AOL Time Warner Inc. and Venezuela’s Cisneros Group, no longer met the $35 million market capitalization requirement for continued listing of its Class A common stock on the Nasdaq SmallCap market.
The Fort Lauderdale, FL-based firm will request a hearing with the Nasdaq to appeal the ruling. In the meantime,. , the company’s shares would continue to trade as usual.
If the appeal fails, AOL Latin said its shares would trade on the over-the-counter Bulletin Board (OTCBB).
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