News; Joint tour in the United States once again faces delisting risk
Published: Thursday 01 September, 2011
Joint stock downturn, travel network (CCGM) once again went to the Nasdaq delisting by the cliff. Beijing yesterday, the joint tour with the U.S. Securities and Exchange Commission the network to submit new evidence in order to avoid delisting. This is the second joint tour network receives Nasdaq delisting risk warning, and Jun Tang (microblogging)'s this backdoor listing of Internet companies also "very" long, once again raised concern to the industry.
From mid-July, the joint tour network shares more than 40 days in a row below $ 1. According to Nasdaq regulations, if a stock for 30 days under $ 1, it will be to issue a warning notification letter. If the company can not guarantee the next 180 days in the stock price back to $ 1 on top, and for 10 days, then it will be ordered to withdraw from the market. Now it seems that short-term joint tour price rise unlikely.
Reporters yesterday called Alliance Tour Network Shanghai headquarters, its public relations official responded that the warning will not immediately present the delisting of the Company's common stock on the NASDAQ global market impact of trading, as long as 180 days in the next year 2 before 23, can travel together again back to $ 1 share price above, it will not be delisted. For in what way will prop up share prices, this official said no comment. Reporters then try to swim directly linked Tang Jun, chairman of the board, but the phone has no answer.