NEW YORK--(BUSINESS WIRE)--The New York Stock Exchange (“NYSE”, the “Exchange”) announced today that the staff of NYSE Regulation has determined to commence proceedings to delist the American Depositary Shares (“ADSs”), each representing ten ordinary shares, par value $0.001 per share of Leju Holdings Limited (the “Company”) — ticker symbol LEJU — from the NYSE. Trading in the Company’s ADSs will be suspended immediately.
The Company is currently below compliance with Section 802.01B of the NYSE Listed Company Manual since the Company has a total market capitalization of less than $50 million over a 30 trading-day period and a stockholders’ equity of less than $50 million. NYSE Regulation reached its decision to delist the Company’s ADSs pursuant to Section 802.03 of the NYSE Listed Company Manual, because the Company submitted a business plan that did not demonstrate an ability to return to compliance with continued listing standards within 18 months of notice from the Exchange as required by Section 802.03 of the NYSE Listed Company Manual.
The Company has a right to a review of this determination by a Committee of the Board of Directors of the Exchange. The NYSE will apply to the Securities and Exchange Commission to delist the ADSs upon completion of all applicable procedures, including any appeal by the Company of the NYSE Regulation staff’s decision.