News & Events zu Lexinfintech Holdings Ltd (LX)LXLexinfintech Holdings Ltd

LexinFintech Receives Nasdaq Non-Compliance Notice

LexinFintech announced that it received a written notice from Nasdaq indicating that the company is not in compliance with the $1.00 minimum bid price requirement under the Nasdaq Listing Rules. Based on the closing bid price of the company's listed securities from September 1 to October 13, the company has not met the minimum bid price requirement set forth in Listing Rule 5450 during that period. The notice is only a notification of deficiency and has no immediate effect on the listing of the company's American Depositary Shares. The company's ADSs will continue to trade on the Nasdaq at this time. The company's receipt of the notice does not impact the company's business, operations or reporting requirements with the U.S. Securities and Exchange Commission. The notice states that under Listing Rule 5810, the company is provided with a period of 180 calendar days, or until April 12, 2027, to regain compliance with the Listing Rules, for which the closing bid price of the company's ADSs must meet or exceed $1.00 per ADS for at least ten consecutive business days unless Nasdaq exercises its discretion to extend this ten-day period. In the event the company does not regain compliance by April 12, 2027, the company may be eligible for an additional period to regain compliance or may face delisting.

LexinFintech share repurchase program shows management's 'long-term confidence'

LexinFintech recently announced a share repurchase program. Specifically, the board of directors authorized the company to repurchase no more than US$50 million worth of its own shares over the next 12 months; meanwhile, CEO Xiao Wenjie plans to use his personal funds to purchase no more than US$10 million worth of the ADSs to increase his holdings of the company. This repurchase fully demonstrates the long-term confidence of Lexin's management in the company's development.

LexinFintech announces $50M share repurchase program

LexinFintech announced that its board of directors has authorized a share repurchase program under which the company may purchase up to $50M of its shares over the next twelve months. In addition, Jay Wenjie Xiao, Chairman and CEO of Lexin, has informed the company that he planned to use his personal funds to purchase the company's American depository shares. Xiao intends to purchase up to $10M worth of the ADSs within the next twelve months, pursuant and subject to applicable laws and the company's securities trading policy.