Recon Technology regains Nasdaq minimum bid price compliance

Magnitude International Ltd (NASDAQ:MAGH) has regained compliance with Nasdaq's Listing Rule 5250(c)(1), the company announced today. Nasdaq confirmed the restoration of compliance on Wednesday after the company filed its annual report, Form 20-F, for the fiscal year ending April 30, 2026. The company had previously filed the Form 20-F on Tuesday and received a supplementary staff determination notice on September 16, 2026, concerning the late filing of the same document.

This restoration of compliance does not influence an earlier staff determination from Nasdaq on August 3, 2026, which remains under ongoing review under Nasdaq Listing Rule IM-5101-4. Magnitude International is a mechanical and electrical engineering service provider based in Singapore, specializing in electrical works for both private and public sector projects. The company was established in 2012 and operates through subsidiaries in Singapore.