Ruixing coffee: received the delisting notice from NASDAQ

category:Finance
 Ruixing coffee: received the delisting notice from NASDAQ


According to the disclosed documents, the SEC listing Qualification Committees decision to delist is based on two reasons: according to NASDAQ listing rule 5101, the false transaction disclosed by Ruixing coffee on April 2 raised public interest concerns; according to NASDAQ listing rule 5250, Ruixing coffee failed to disclose effective information publicly in the past and conducted through the previous business model False transactions.

As soon as the news came out, the shares of Ruixing coffee fell sharply. The shares have been suspended since April 7 due to NASDAQs request for more information, with a final closing price of four point three nine $1.1 billion.