Shares of SU Group Holdings Limited (NASDAQ: SUGP ) are surging Friday morning after the company confirmed it has officially regained compliance with Nasdaq’s minimum bid price requirement .
SU Group Holdings shares are powering higher. What’s driving SUGP stock higher?Hong Kong Security Firm Clears Listing Rule Hurdle
In a press release issued Thursday, the Hong Kong-based integrated security provider announced it received written confirmation from The Nasdaq Stock Market LLC that it now satisfies Listing Rule 5550(a)(2).
The notification ensures that SU Group’s Class A Ordinary Shares will continue trading on the Nasdaq Capital Market, resolving the immediate risk of a delisting.
What Does SU Group Holdings Do?
SU Group Holdings is an integrated security-related services company. It operates through two segments: security-related engineering services, and security guarding and screening services plus related vocational training services.
Trending Get a 1% Match on Your First Deposit of $1,000+Most of its revenue comes from the security-related engineering services segment, and the business is primarily tied to Hong Kong (with additional exposure to other foreign countries).
SUGP Stock Price Movement in Premarket
SUGP Stock Price Activity: SU Group Holdings shares were up 36.22% at $3.78 during premarket trading on Friday, according to Benzinga Pro data .
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