In This Article:
Company Granted Request to Continue its Listing on Nasdaq
Appoints Thorain Ko to Lead Business Development Initiatives
BANGKOK, Feb. 20, 2025 (GLOBE NEWSWIRE) -- NewGenIvf Group Limited (NASDAQ: NIVF) (“NewGen” or the “Company”), a comprehensive fertility services provider in Asia helping couples and individuals obtain access to fertility treatments, today announced that the Nasdaq Hearings Panel (the “Panel”) has granted the Company's request for continued listing on The Nasdaq Stock Market, subject to specific conditions. Additionally, the Company announced the appointment of Mr. Thorain Ko as Business Development Director to drive its expansion initiatives.
Nasdaq Listing Update
The Panel has granted NewGen’s request to continue its listing on the Nasdaq Stock Market subject to several conditions that must be met within specified time frames. The Company has already made progress on its compliance plan, including carrying out a reverse split on February 11, 2025 and achieving compliance with the shareholders' equity minimum for listing on the Nasdaq Capital Market ahead of schedule through note conversions. The Company intends to apply for transition to the Nasdaq Capital Market on or before February 26, 2025.
Appointment of Business Development Director
In a strategic move to strengthen its management team, NewGen has appointed Mr. Thorain Ko as Business Development Director. Mr. Ko will spearhead the Company's efforts to develop its recently announced lifetime egg-freezing business in China and broader Asian markets, while also driving sales initiatives across the Company's fertility service offerings.
Mr. Ko brings over 30 years of experience in business development, healthcare, and direct-selling to NewGen. Most recently, he served as a Sales and Marketing Director at USANA Health Sciences, specializing in nutritional supplements, skincare, and weight management products. Previously, Mr. Ko held leadership positions at Jeunesse Global Group Ltd. as Marketing Manager and at HEC International, LLC as Operations Director. Mr. Ko holds a Bachelor of Laws (LLB) from the University of London and a Master of Corporate Governance (MCG) from Hong Kong Polytechnic University.
Mr. Siu Wing Fung Alfred, Founder, Chairman, and CEO of NewGen, commented, “We are pleased with the Panel's decision to grant our continued listing request and appreciate their recognition of our progress in meeting Nasdaq's requirements. As we work to complete our compliance plan, we are simultaneously strengthening our management team with the addition of Mr. Ko, whose extensive experience in healthcare business development across Asia will be instrumental in driving our growth initiatives, particularly in our lifetime egg-freezing business. These developments reflect our commitment to creating value for shareholders while expanding access to fertility services across Asia.”