NYSE to Commence Delisting Proceedings Against Kuke Music Holding Limited (KUKE)

Core Points - NYSE has announced the commencement of delisting proceedings against Kuke Music Holding Limited due to failure to maintain an average closing price of at least $1.00 over a consecutive 30 trading-day period [2] - Trading in Kuke Music's American Depositary Shares (ADSs) will be suspended immediately [1][2] - The company has the right to appeal the delisting decision to a Committee of the Board of Directors of the NYSE [3] Company Summary - Kuke Music Holding Limited's ADSs, each representing ten Class A ordinary shares, are set to be delisted from the NYSE [1] - The delisting is based on Section 802.01C of the NYSE's Listed Company Manual, which addresses the maintenance of minimum share price [2] - The company had previously executed a reverse stock split within the last year, which contributed to the current situation [2]