NYSE to Commence Delisting Proceedings Against Global Cord Blood Corporation (CO)
The New York Stock Exchange LLC ("NYSE" or "Exchange") announced today that the staff of NYSE Regulation has determined to commence proceedings to delist the ordinary shares of Global Cord Blood Corporation (the "Company") ? ticker symbol CO ? from the NYSE. Trading in the Company's ordinary shares will be suspended immediately.
NYSE Regulation halted trading in the Company's ordinary shares on September 23, 2022 and has now determined to commence delisting proceedings with respect to the Company pursuant to Section 802.01D of the NYSE Listed Company Manual. On September 22, 2022, the Grand Court of the Cayman Islands issued an order appointing Joint Provisional Liquidators (the "JPLs") over the Company. Since their appointment, the JPLs have publicly disclosed that, as a result of certain improper activity before and after their appointment, the operating business and assets of the Company's subsidiaries in the People's Republic of China were transferred away from the Company. The JPLs are taking steps to restore the Company's position with respect to those operating businesses and assets, but as of the date hereof the situation remains unresolved. As a result, NYSE Regulation reached the decision that the Company is no longer suitable for listing. The NYSE may consider any event or condition which may exist or occur that makes further dealings or listing on the Exchange inadvisable or unwarranted in the opinion of the Exchange.
The Company has a right to a review of this determination by a Committee of the Board of Directors of the Exchange. The NYSE will apply to the Securities and Exchange Commission to delist the Company's ordinary shares upon completion of all applicable procedures, including any appeal by the Company of the NYSE Regulation staff's decision.
News published on and distributed by:
