BEIJING, Jan. 31, 2022 /PRNewswire/ -- Leju Holdings
Limited ("Leju" or the "Company") (NYSE: LEJU), a leading
e-commerce and online media platform for real estate and home
furnishing industries in China,
today announced that it has received a letter from the New York
Stock Exchange (the "NYSE") dated January 6,
2022, notifying Leju that it is below compliance standards
due to the trading price of Leju's American depositary shares (the
"ADSs").
Pursuant to NYSE rule 802.01C, a company will be considered to
be below compliance standards if the average closing price of a
security as reported on the consolidated tape is less than
$1.00 over a consecutive 30
trading-day period. Once notified, the company must bring its share
price and average share price back above $1.00 by six months following receipt of the
notification. The company can regain compliance at any time during
the six-month cure period if on the last trading day of any
calendar month during the cure period the company has a closing
share price of at least $1.00 and an
average closing share price of at least $1.00 over the 30 trading-day period ending on
the last trading day of that month. In the event that at the
expiration of the six-month cure period, both a $1.00 closing share price on the last trading day
of the cure period and a $1.00
average closing share price over the 30 trading-day period ending
on the last trading day of the cure period are not attained, the
NYSE will commence suspension and delisting procedures.
To address this issue, Leju intends to monitor the market
conditions of its listed securities and is still considering its
options.
About Leju
Leju is a leading e-commerce and online media platform for real
estate and home furnishing industries in China, offering real estate e-commerce, online
advertising and online listing services. Leju's integrated online
platform comprises various mobile applications along with local
websites covering more than 380 cities, enhanced by complementary
offline services to facilitate residential property transactions.
In addition to the Company's own websites, Leju operates the real
estate and home furnishing websites of SINA Corporation, and
maintains a strategic partnership with Tencent Holdings Limited. For more information
about Leju, please visit http://ir.leju.com.
Safe Harbor Statement
This announcement contains forward-looking statements. These
statements are made under the "safe harbor" provisions of the U.S.
Private Securities Litigation Reform Act of 1995. These
forward-looking statements can be identified by terminology such as
"will," "expects," "anticipates," "future," "intends," "plans,"
"believes," "estimates" and similar statements. Statements that are
not historical facts, including statements about Leju's beliefs and
expectations, are forward-looking statements. Forward-looking
statements involve inherent risks and uncertainties. A number of
factors could cause actual results to differ materially from those
contained in any forward-looking statement All information provided
in this press release is as of the date of this press
release, and Leju does not undertake any obligation to update
any forward-looking statement, except as required under
applicable law.
For more information, please contact:
Ms. Christina Wu
Leju Holdings Limited
Phone: +86 (10) 5895-1062
E-mail: ir@leju.com
Philip Lisio
Foote Group
Phone: +86 135-0116-6560
E-mail: phil@thefootegroup.com
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SOURCE Leju Holdings Limited