Codere Online to fight Nasdaq delisting
Operator Codere Online has announced that it will appeal a notice it received to delist from the Nasdaq.
The listing qualifications Department of the Nasdaq Stock Market notified Codere Online of its intentionto delist it on 16 May, after it failed to file its Form 20-F for 2024.
In announcing its appeal, Codere Online said the delay was due to engaging a new accounting firm and pointed to its attention to detail in completing its Form 20-F for 2023, which it submitted on May 1, 2025. That form required an extension given in February 2025 after it was filed late.
Nasdaq Listing Rule 5800 Series allows companies to pursue a hearing panel in cases like this, and Codere Online expressed its intention to do so on May 22. That stops the company from being delisted for the 15 days following the request. Usually, hearings are heard 30 to 45 days after a request.
Codere Online outlined its belief it could file its Form 20-F for 2024 by May 30, 2025. If not, Nasdaq will suspend trading on the company on June 6.
Codere Online provides its online gambling platform in several jurisdictions globally, including several Latin American countries like Colombia and Argentina. The company also operates in Panama, Mexico, and Spain.
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