China Sunergy (CSUN) has regained its listing on the NASDAQ Stock Exchange after losing its position earlier in the year.
A letter from the stock market, dated 30 July 2013, informed the module manufacturer that as it had held publicly traded stock worth US$15 million or more for 10 consecutive days, its NASDAQ listing would be regained.
NASDAQ originally wrote to CSUN on 2 May this year informing the company that it would be delisted from the stock market. This was due to the fact that stockholder equity in CSUN as of 31 December 2012 had fallen below the minimum threshold for listing, which is US$10 million.
NASDAQ’s 31 July letter said that for the 10 consecutive business days spanning 16 July to 29 July this year, the value of the company’s shares was at or above US$15 million.
The news follows a recent report issued by Bloomberg New Energy Finance (BNEF) highlighting a rally in solar company shares. BNEF said solar stock prices had climbed over the last eight months and that the solar sector has been outperforming other low carbon technology energies over that period as the industry undergoes a period of consolidation.