Major tier-one PV manufacturer Yingli Green Energy has said it received an official notice from the NYSE on 13 August 2015 that it was not in compliance with the minimum US$1.0 share price threshold.
PV Tech had exclusively revealed yesterday that Yingli Green was at threat of receiving the de-listing notice after trading below the threshold for 30 consecutive trading days.
Yingli Green noted that it expected to notify the NYSE of its intent to comply with the ruling within the six-month ‘cure’ period but did not state what the strategy would be.
Typically, companies take the option of a reverse stock split, reducing the number of shares traded to boost the value.
As PV Tech had previously noted, Yingli Green issued a ‘going concern’ warning in its 2014 annual report, in mid-May, while its shares have declined around 75% in the last 12 months.