The listing rules of new york Stock Exchange 802 0 1 stipulate the specific criteria for the delisting of listed companies, and point out that even if companies meet these specific criteria, in some cases, the exchange still has the right to terminate the listing of companies that it considers unsuitable to continue trading.
Unlike Hong Kong, the US Securities Exchange Act 1934 stipulates that an exchange must report to the US Securities and Exchange Commission (SEC) for approval before making a decision to terminate its listing.
Extended information 1. The shares originally circulated by the delisting company in the exchange will be transferred by a securities company (the sponsoring securities firm) qualified to handle the share transfer business, and will be traded in the share transfer system within 45 working days.
2. Shareholders of delisting companies must first open a share transfer account (individual shareholder 30 yuan, institutional shareholder 100 yuan) and go through the procedures of share confirmation, transfer and custody (individual shareholder 10 yuan, institutional shareholder 30 yuan). Individual shareholders should bring their ID cards when opening share transfer accounts.
3. Before the delisting company is listed on the agency share transfer system, shareholders should go through the procedures of share confirmation and transfer custody as soon as possible, otherwise it may not be able to catch up with the company's first trading day. After the delisting company goes public, shareholders can continue to go through the formalities of confirmation and transfer of shares, but their shares can only be transferred after two trading days (that is, the third board transaction).
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