VisionChina Media Inc. ("VisionChina Media" or the "Company") (Nasdaq: VISN), one of China's largest out-of-home digital television advertising networks on mass transportation systems, today announced that it has regained compliance with the minimum bid price requirement for continued listing on The Nasdaq Global Market.
As previously disclosed, the Company received a notice from The Nasdaq Stock Market LLC dated July 13, 2012, indicating that, for the 30 consecutive business days from May 31, 2012 to July 12, 2012, the bid price for the Company's American Depositary Shares ("ADSs") had closed below the minimum $1.00 per share required for continued listing under Nasdaq listing Rule 5450(a)(1). The Company was granted a period of 180 calendar days, or until January 9, 2013, to regain compliance with the minimum bid price requirement.
On December 28, 2012, the Company received notification from The NASDAQ Listing Qualifications department that it had regained compliance with the minimum bid price requirement under the Listing Rule 5450(a)(1) after maintaining a closing bid price of the Company's ADSs equal to or in excess of $1.00 per share for the last 10 consecutive trading days, from December 12, 2012 to December 26, 2012.