Shares of SU Group Holdings Limited (NASDAQ:SUGP) are surging Friday morning after the company confirmed it has officially regained compliance with Nasdaq’s minimum bid price requirement.

• SU Group Holdings shares are powering higher. What’s driving SUGP stock higher?

Hong Kong Security Firm Clears Listing Rule Hurdle

In a press release issued Thursday, the Hong Kong-based integrated security provider announced it received written confirmation from The Nasdaq Stock Market LLC that it now satisfies Listing Rule 5550(a)(2).

The notification ensures that SU Group’s Class A Ordinary Shares will continue trading on the Nasdaq Capital Market, resolving the immediate risk of a delisting.

What Does SU Group Holdings Do?

SU Group Holdings is an integrated security-related services company. It operates through two segments: security-related engineering services, and security guarding and screening services plus related vocational training services.

Most of its revenue comes from the security-related engineering services segment, and the business is primarily tied to Hong Kong (with additional exposure to other foreign countries).

SUGP Stock Price Movement in Premarket

SUGP Stock Price Activity: SU Group Holdings shares were up 36.22% at $3.78 during premarket trading on Friday, according to Benzinga Pro data.

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