Nasdaq Files Form 25 to Delist Fast Track Group Ordinary Shares

What happened

Nasdaq Stock Market LLC filed a Form 25 with the Securities and Exchange Commission on October 9, 2026 to strike Fast Track Group's ordinary shares from listing and registration on the exchange, according to the filing.

The filing identifies Fast Track Group as a company with its principal executive offices at 12 Mohamed Sultan Road, Singapore. Its securities listed on the exchange are described in the filing only as ordinary shares.

The form was signed by Aravind Menon, identified as a Hearings Advisor at Nasdaq. The shares closed at $0.6412 on the event date, unchanged from the previous close, according to the price data.

The filing does not state a reason for the delisting. The Form 25 itself does not explain why the shares are being removed, and no other source provided describes the circumstances.

The filing

A Form 25 is the notification used to remove a security from listing and/or registration under Section 12(b) of the Securities Exchange Act of 1934. Either the issuer or the exchange can file one. In this case, Nasdaq filed it.

The form includes boxes for several rule provisions under 17 CFR 240.12d2-2 that can be relied upon to strike a class of securities. The filing text provided does not show which box, if any, was marked. It also includes language that the exchange has complied with its rules, and separate language that, where applicable, the issuer has complied with exchange rules governing voluntary withdrawal. The filing does not indicate which path applies here.

One detail distinguishes this filing from a routine debt maturity delisting: the class of securities is described as ordinary shares, which are equity, not notes or bonds. A Form 25 removing common stock from an exchange is a significant event for the company's listing status.

What this means

A stock listing is a permission slip to trade on an exchange. A Form 25 is how that permission is withdrawn. Once the form takes effect, the shares stop trading on Nasdaq and the company's registration of that class under Section 12(b) is withdrawn.

Stocks at this price level — Fast Track Group closed at $0.6412 — often trade on Nasdaq under rules that require a minimum bid price, commonly $1. Nasdaq's listing rules set out several conditions that can lead to a delisting, but the filing here does not say which one, if any, was triggered. Readers should not assume a specific cause from the form alone.

For a company whose shares are removed from an exchange, the shares may continue to trade over the counter, but the filing does not say whether that will happen here. What the filing establishes is narrower: Nasdaq has moved to strike the ordinary shares from listing and registration, and the paperwork certifying that step is now on file with the SEC.