MarketPR
Nasdaq's Listing Qualifications Department sent NusaTrip Incorporated (NASDAQ: NUTR) a Staff Delisting Determination on August 3, 2026, invoking discretionary authority under Listing Rule IM-5101-4 after the Chapter 11 bankruptcy of controlling shareholder Society Pass Incorporated placed 78% of NusaTrip's voting securities inside a bankruptcy process with no clear exit timeline.
NusaTrip does not intend to appeal and will pursue over-the-counter trading instead. The delisting grounds Nasdaq cited three separate bases, each described as independently sufficient for removal.
The most direct is the Society Pass bankruptcy itself. SOPA controls 78% of NusaTrip's outstanding voting power and filed for Chapter 11 protection on May 14, 2026, alongside its subsidiary SoPa, Inc.
Nasdaq concluded that the resulting uncertainty raised public interest concerns making continued listing inadvisable, supporting its use of discretionary authority under Listing Rule IM-5101-4.
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