The leading education company in China, OneSmart International Education Group (NYSE: ONE), announced on August 4, 2021 that it had received a letter from the New York Stock Exchange dated August 3, 2021, notifying that OneSmart is below the criteria for compliance relating to the price performance of the shares of the US custodian of OneSmart.
The company will be considered to meet the compliance criteria if the average closing price of the shares is less than $ 1.00 over a period of 30 consecutive trading days. Once confirmed, the company must ensure that its share price as well as the average share price is above $ 1.00 within six months of notification.
OneSmart will be able to restore compliance at any time during the scheduled six-month processing period on the last trading day of a calendar month at a close price of $ 1.00 along with an average close price. of $ 1.00 on all 30 exchanges. day periods.
If the six-month processing period expires, the closing share price of $ 1.00 on the last trading day as well as the average closing share price of $ 1.00 on the 30 trading day periods of the last day do not occur, the New York Stock Exchange will begin the suspension as well as the delisting process of the company.
The company will monitor market conditions for listed entities and consider options.
ONE stock is up 68% to $ 0.86 in Wednesday’s morning session. The stock has fallen 24% in the past month and 77% since the start of the year.