Singapore-based property portal Ohmyhome faces mounting questions regarding its continued eligibility for a Nasdaq listing after divesting its core business unit, US1, for a nominal US$1.
The transaction has left the company without its primary revenue stream, prompting market experts to assess whether the firm can meet the exchange's financial and operational thresholds for public trading.
The sale of US1 represents a fundamental shift in Ohmyhome's corporate structure, effectively stripping the listed entity of its main operational asset.
With the stock price already under pressure, the move has intensified scrutiny from investors and analysts who are evaluating the long-term viability of the company as a standalone public entity.
The nominal sale price underscores the strategic retreat from the US1 segment, leaving Ohmyhome to pivot toward other potential growth areas or face the prospect of delisting.
Nasdaq rules require listed companies to maintain minimum bid prices and market value thresholds, among other criteria.