Gravity To Transfer Listing To Nasdaq Capital Market - Quick Facts

(RTTNews) - Gravity Co., Ltd. (GRVY), a Korea-based developer and publisher of online games, Tuesday said it received a positive determination from the Listing Qualifications department of The Nasdaq Stock Market on November 25, which granted approval of the company's request to transfer its listing to The Nasdaq Capital Market from The Nasdaq Global Market.

The company's American Depository Shares will begin trading on Capital Market effective November 26.

The transfer is not expected to have any impact on trading in the company's ADS, and the ADS will continue to trade on Nasdaq under the symbol 'GRVY'.

Nasdaq notified the company that, upon the transfer to Capital Market on November 26, it is granted its second grace period of 180 calendar days, or until May 26, 2015 to regain compliance with Nasdaq.

Gravity will monitor the bid price for its ADS between now and May 26, 2015, and will consider available options to meet the Nasdaq minimum bid price requirement.