Sutor Technology Group Limited, a China-based manufacturer and distributor of high-end fine finished steel products and welded steel pipes used by a variety of downstream applications, announced that it has regained compliance with the NASDAQ Stock Market Listing Rules that require maintenance of a minimum $1.00 per share bid price.

As previously disclosed, the company received a notice from The NASDAQ Stock Market on 25 June 2012, indicating that, for the last 30 consecutive business days, the bid price for the company’s common stock had closed below the minimum $1.00 per share required for continued inclusion on The NASDAQ Capital Market under the NASDAQ listing Rule 5550(a)(2). The company was granted a period of 180 calendar days, or until 24 December 2012, to regain compliance with the minimum bid price requirement.

On 9 November 2012, the company received notification from The NASDAQ Listing Qualifications department that it had regained compliance with the minimum bid price requirement under the Listing Rule 5450(a)(1) after maintaining a closing bid price of the company’s common stock equal to or in excess of $1.00 per share for the last 10 consecutive trading days, from 24 October 2012 to 8 November 2012.