Kuke music receives continued listing standard notice from the nyse

Beijing, sept. 26, 2023 (globe newswire) -- kuke music holding limited ("kuke" or the "company") (nyse: kuke), a leading classical music service platform in china with approximately 3 million audio and video music tracks, today announced that on june 29, 2023, it received a notice (the “notice”) from the new york stock exchange (nyse) that it is no longer in compliance with the nyse's continued listing standards set forth in section 802.01b of the nyse's listed company manual due to the fact that the company's average global market capitalization over a consecutive 30 trading-day period was less than $50 million and its shareholders' equity was less than $50 million. as set forth in the notice, as of june 27, 2023, the 30 trading-day average global market capitalization of the company was approximately $20.7 million and the company's last reported shareholders' equity as of december 31, 2022 was $8.8 million.             in accordance with the nyse's listing requirements, the company has notified the nyse that it will submit a plan within 45 days of the notice advising the nyse of the definitive action it has taken, or is taking, to bring it into conformity with section 802.01b within 18 months of receipt of the notice. the nyse will review the company's plan and, within 45 days, make a determination as to whether the company has made a reasonable demonstration of its ability to come into conformity with section 802.01b within 18 months. if the company's plan is not submitted on a timely basis or is not accepted, the nyse will initiate delisting proceedings. if the nyse accepts the company's plan, the company's adss will continue to be listed and traded on the nyse during the cure period, subject to the company's compliance with the plan and other continued listing standards. the nyse will review the company on a quarterly basis to confirm compliance with the plan. if the company fails to comply with the plan or does not meet continued listing standards at the end of the 18-month cure period, it will be subject to the prompt initiation of the nyse's suspension and delisting procedures.
KUKE Ratings Summary
KUKE Quant Ranking