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Why Did Brooge Energy Plunge 56%? Delisting From Nasdaq
Generated by AI AgentAinvest Pre-Market Radar
Thursday, May 29, 2025 4:18 am ET1min read
On May 29, 2025, Brooge Energy's stock plummeted by 56% in pre-market trading, marking a significant downturn for the company.
Brooge Energy has announced its decision to voluntarily delist its ordinary shares from the Nasdaq Capital Market and deregister with the Securities and Exchange Commission (SEC). This move, which was officially declared on May 28, 2025, is expected to take effect around June 9, 2025. The company has no plans to relist its shares on any other exchange, indicating a strategic shift in its market presence.
The delisting process involves filing a Form 25 with the SEC and Nasdaq, which will officially remove Brooge Energy's shares from the market. This decision is likely to impact the company's public trading status and investor relations, as it transitions away from being a publicly traded entity.
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