Chinese mobile content aggregator Qutoutiao Inc is planning to delist from the Nasdaq, after four and half years of trading, as the firm has failed to sustain the minimum market value required by the bourse.
Qutoutiao, which is set to suspend its Nasdaq listing during market opening on Thursday, disclosed in its latest filing with the US Securities and Exchange Commission (SEC) that it had received a letter from the Nasdaq on March 14 about the exchange’s move to delist its securities. Qutoutiao has decided not to challenge the decision.