AOL Latam No Longer on Nasdaq Conditional Listing

story.news.yahoo.com Thu Jan 30, 9:22 AM ET

FORT LAUDERDALE (Reuters) - America Online Latin AmericaInc. (Nasdaq:AOLAC - news), which offers Internet services in Mexico, Argentina and Brazil, said on Thursday it is no longer in conditional listing on the Nasdaq SmallCap Market, having met minimum capitalization requirements.

The company, backed by media giant AOL Time Warner Inc. (NYSE:AOL - news) and Venezuela's Cisneros Group, said it will trade once again under the AOLA (NasdaqNM:AOLA - news) symbol when markets open on Thursday.

Nasdaq requires $35 million in market capitalization for the company to list its Class A common stock, AOL Latin America said.

Earlier this month, stock conversion by the two main shareholders of the company helped to boost its capitalization levels and gained it a six-month extension to comply with the $1 minimum bid price requirement for the Class A stock.

The shares closed at 52 cents on Wednesday. In the past year, they have ranged from 17 cents to $3.16.