Moatable Announces Delisting Proceedings of the ADS by NYSE
Moatable, Inc. American Depositary Share (each representing forty-five (45) Class A Ordinary Shares) (MTBL)
Company Research
Source: PR Newswire
PHOENIX, April 4, 2024 /PRNewswire/ -- Moatable, Inc. (NYSE: MTBL) ("Moatable" or the "Company"), which operates two US-based SaaS businesses, Lofty Inc.© and Trucker Path Inc.©, today announced that it has received a notice letter from the New York Stock Exchange (the "NYSE", or the "Exchange") that the staff of NYSE Regulation has determined to commence proceedings to delist the American depositary shares ("ADSs"), each representing 45 Class A ordinary shares of the Company — ticker symbol MTBL — from the NYSE. Trading in the Company's ADSs will be suspended immediately.The NYSE Regulation reached its decision to delist the Company's ADSs pursuant to Section 802.01B of the NYSE's Listed Company Manual because the Company had fallen below the NYSE's continued listing standard requiring listed companies to maintain an average global market capitalization over a consecutive 30 trading day period of at least $15 million.Under NYSE delisting procedures, the Company has a right to a revie
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