THE WHAT? Yatsen has announced that it has received a letter from the New York Stock Exchange dated April 11, 2022, notifying the Chinese beauty brand that it is below compliance criteria with regards to the performance of its trading price.
THE DETAILS Following the receipt of the letter, the company has six months to bring its share price and average share price above US$1.
THE WHY? NYSE rule 802.01C states that a company is below compliance criteria if the average closing price of a security as reported on the consolidated tape is less than US$1 over a consecutive 30 trading-day period.