Nasdaq withdraws listing ban on Luokung after U.S. judge's decision

By Karen Freifeld
FILE PHOTO The Nasdaq logo is displayed at the Nasdaq Market site in New York September 2 2015. REUTERSBrendan McDermid

FILE PHOTO: The Nasdaq logo is displayed at the Nasdaq Market site in New York September 2, 2015. REUTERS/Brendan McDermid

WASHINGTON (Reuters) -Nasdaq Inc has withdrawn a decision to delist the shares of Luokung Technology Corp, the Chinese mapping technology company said on Thursday, after a U.S. judge suspended an imminent investment ban imposed under the former Trump administration.

The ruling and listing news sent shares of the company nearly 20% higher. Luokung, in a news release on Thursday, said Nasdaq had notified the company that it has withdrawn its delisting letter and shares would continue to trade on the market, and would not be suspended on May 7. A Nasdaq spokesman declined to comment.

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