f the NYSE’s Listed Company Manual, which allows the Exchange to delist a stock if it believes doing so is necessary to protect investors and the public interest.
The decision to delist comes after the Company’s failure to meet the Exchange’s continued listing standards, including the failure to timely file its annual report for the year ended December 31, 2020. The Company was also previously notified by the Exchange in April 2021 that it was below compliance with the Exchange’s continued listing standards and was given a period of time to come into compliance. However, the Company was unable to do so, leading to the delisting of its ADSs.
This development has undoubtedly impacted the Company and its shareholders, as the delisting and immediate suspension of trading on the NYSE will limit the ability for investors to easily and transparently buy and sell the Company’s ADSs. Furthermore, the Company will now be subject to trading on Over-the-Counter (OTC) markets, which typically have lower visibility and liquidity compared to listings on major exchanges like the NYSE.
In response to the delisting, the Company released a statement expressing its intention to appeal the NYSE Regulation staff’s decision. The Company plans to request a review by a committee of the board of directors of the Exchange, at which point it will have the opportunity to present its plan to regain compliance with the Exchange’s continued listing standards. This appeal process could potentially lead to the relisting of the Company’s ADSs on the NYSE, if the Company can demonstrate its ability to meet the Exchange’s listing requirements.
The delisting of Jianpu Technology Inc.’s ADSs serves as a reminder of the importance of compliance with listing standards for publicly traded companies. Failure to maintain compliance can result in harsh consequences, such as the delisting and suspension of trading on major exchanges like the NYSE.
In conclusion, the delisting of Jianpu Technology Inc.’s ADSs from the NYSE is a significant development that will undoubtedly impact the Company and its shareholders. As the Company seeks to appeal the decision and regain compliance with the Exchange’s continued listing standards, the outcome of the appeal process will be closely watched by investors and industry observers.
For more information about the delisting of Jianpu Technology Inc.’s ADSs from the NYSE, please visit the NYSE’s official website or contact the Company’s investor relations department.
In summary, the delisting of Jianpu Technology Inc.’s ADSs from the NYSE is a significant event that has led to the immediate suspension of trading and will impact the Company and its shareholders. The Company plans to appeal the decision and present its plan to regain compliance with the Exchange’s listing requirements. The outcome of the appeal process will be closely watched by investors and industry observers. For more information, visit the NYSE’s official website or contact the Company’s investor relations department.
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