NYSE to Suspend Trading Immediately in Onion Global Limited (OG) and Commence Delisting Proceedings

Rhea-AI Summary

The New York Stock Exchange (NYSE) announced the delisting of Onion Global Limited's American depositary shares (ADSs), represented by ticker symbol OG, due to non-compliance with continued listing standards. The company's ADSs have been suspended from trading after falling below the NYSE's average closing price requirement of $1.00 for a consecutive 30-day period. Onion Global Limited has the right to appeal this decision to the NYSE Board of Directors, and the NYSE will file to delist common shares pending the completion of procedures related to any appeal.

Positive

• None.

Negative

• Delisting of ADSs due to non-compliance with NYSE's price standards.
• Trading suspended after average price fell below $1.00 for 30 days.
• Potential negative impact on investor confidence and stock liquidity.

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 ten (10) ADSs represents one (1) Class A ordinary share of Onion Global Limited (the “Company”) — ticker symbol OG — from the NYSE. Trading in the Company’s ADSs will be suspended immediately.

NYSE Regulation reached its decision to delist the Company’s ADSs pursuant to Listed Company Manual Section 802.01C, as the Company had fallen below the NYSE’s continued listing standard for average closing price of less than $1.00 over a consecutive 30 trading-day period and failed to cure this non-compliance within the required timeframe.

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 common shares upon completion of all applicable procedures, including any appeal by the Company of the NYSE Regulation staff’s decision.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230103005818/en/

Company Contact:

Onion Global Ltd.

Investor Relations

E-mail: ir@msyc.cc

E-mail: jacqueline.peng@msyc.cc

NYSE Contact:

NYSE Communications

PublicRelations-NYSE@ice.com

Source: NYSE Regulation

FAQ

What caused the delisting of Onion Global Limited's stocks?

Onion Global Limited's American depositary shares (ADSs) were delisted due to falling below the NYSE's average closing price requirement of $1.00 for 30 consecutive trading days.

What is the ticker symbol for Onion Global Limited?

The ticker symbol for Onion Global Limited is OG.

Can Onion Global Limited appeal the delisting decision?

Yes, Onion Global Limited has the right to appeal the delisting decision to the NYSE Board of Directors.

When will trading of Onion Global Limited's ADSs be suspended?

Trading of Onion Global Limited's ADSs has been suspended immediately following the NYSE's announcement.