Nasdaq Files Form 25 to Delist Empro Group Ordinary Shares

What happened

Nasdaq Stock Market LLC filed a Form 25 with the Securities and Exchange Commission on October 6, 2026 to remove Empro Group Inc.'s ordinary shares from listing and registration on the exchange. The filing is signed by Aravind Menon, identified as a Hearings Advisor at Nasdaq.

Empro Group Inc. is a Malaysia-based company in the perfumes, cosmetics and other toilet preparations business. Its principal executive offices are listed at 21, Jalan 15/23, Tiong Nam Industry Park, Shah Alam, Selangor, Malaysia. Its shares traded on Nasdaq under the ticker EMPG, and the SEC filing carries commission file number 001-42733.

The filing covers "Ordinary Shares" — the company's common equity, the class of security that carries voting rights and residual ownership. It does not cover debt securities such as notes or bonds.

What the filing does not say

The Form 25 as filed does not state a reason for the delisting. The document's rule-provision checkboxes — the lines citing 17 CFR 240.12d2-2(a)(1) through (a)(4) — appear in the text without a marked selection, and the filing text on its own does not establish which of the four criteria applied or what triggered the exchange's action.

What the form does show is that Nasdaq states it "has complied with its rules to strike the class of securities from listing and/or withdraw registration on the Exchange," a statement made under 17 CFR 240.12d2-2(b). That provision is the one an exchange uses when it is removing a security on its own initiative rather than at the issuer's request. The separate voluntary-withdrawal provision, 17 CFR 240.12d2-2(c), is not the one invoked here.

No reason, no pending corporate event, and no timetable beyond the filing date are disclosed in the source. Readers should treat the cause of the delisting as unestablished by this document.

What this means

A Form 25 is the formal notification that removes a security from an exchange listing and, in the same step, withdraws its registration under Section 12(b) of the Securities Exchange Act of 1934. Section 12(b) is the provision that governs companies whose securities are listed on a national exchange; registration under it is what obligates a company to file annual reports on Form 10-K, quarterly reports on Form 10-Q, and current reports on Form 8-K.

Either the issuer or the exchange can file a Form 25. When the exchange files it — as Nasdaq did here, through a hearings advisor — the removal is happening under the exchange's own rules rather than because the company asked to leave.

The distinction matters for what happens next. A delisted company's shares can still trade, but not on Nasdaq; they typically move to the over-the-counter market, where quotes are published by market makers rather than matched on a central exchange. Separately, the withdrawal of Section 12(b) registration does not automatically end all SEC reporting. A company with enough shareholders of record can remain subject to reporting under Section 12(g), and Nasdaq's Form 25 filing itself would be a disclosure event that the company would generally be expected to address.

It is also worth being precise about which security this is. This Form 25 concerns ordinary shares — common stock, the residual ownership claim on the company. That is materially different from a Form 25 filed for a maturing bond or note, which is typically routine housekeeping marking the scheduled repayment of debt. A delisting of common stock from a national exchange is a significant event for holders.