Yingli Green Energy Holding has confirmed reports that it has received an official notice from the New York Stock Exchange that it may be de-listed soon.
PV-Tech reported exclusively earlier this week that “Major tier-1 PV manufacturer Yingli Green Energy is at threat of receiving a NYSE de-listing warning as its shares have traded below the US$1.0 threshold for the last 20 days of consecutive trading.”
A day later, Yingli Green Energy published a press release confirming the receipt of just such a notice, which claimed that Yingli Green “was not in compliance with the NYSE’s price criteria for continued listing standard.”
Yingli Green has a six-month “Cure Period” in which to regain compliance with the minimum price requirement before being officially de-listed. Yingli Green must “have a closing share price of at least $1.00 per ADS on the last trading day of any calendar month during the period and also have an average closing price of at least$1.00 per ADS over the 30 trading-day period ending on the last trading day of that month.”
The Chinese-based manufacturing company made no mention of how it intends to regain compliance. PV-Tech notes that, “Typically, companies take the option of a reverse stock split, reducing the number of shares traded to boost the value.”
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