Daqo New Energy receives notice regarding NYSE listing criteria

theflyonthewall.com

Daqo New Energy announced that it has been notified by the NYSE that the company was not in compliance with the NYSE's price criteria for continued listing standard because, as of July 24, the average closing price of the company's American Depositary Shares, or ADSs, was less than $1.00 per ADS over a consecutive 30-trading-day period. Pursuant to Section 802.01C of the NYSE's Listed company manual, the NYSE's price criteria standard requires that any listed security trade at a minimum average closing price of $1.00 during any consecutive 30-trading-day period. As required by the NYSE rules, the company has notified the NYSE of its intent to cure the price deficiency and return to compliance with this continued listing standard. The company intends to cure its ADSs' price deficiency within the applicable time periods required by the NYSE and to remain listed on the NYSE, subject to its compliance with other NYSE continued listing standards.

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