Hoku plans to delist stock from Nasdaq

Hoku plans to delist stock from Nasdaq after stock price fails to maintain minimum

Associated Press

HONOLULU (AP) -- Honolulu-based commercial solar power company Hoku Corp. will delist its stock from Nasdaq.

The company said in a statement Friday it's been unable to maintain a minimum $1 bid price for its stock, placing it in violation of Nasdaq's listing requirements.

Hoku says it will soon file a form with the Securities and Exchange Commission to voluntarily terminate the listing.

Nasdaq halted trading of Hoku's common stock on July 5.

Hoku's CEO resigned last month. The company also said it was exploring selling its subsidiary Hoku Solar.

In May, the company announced subsidiary Hoku Materials would lay off about 100 employees at an Idaho manufacturing plant. The Pocatello plant was to have made silicon for solar panels. Construction work at the facility stopped in April.

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