Business
NYSE American Delisting Action Has No Effect on the Trading of the Ordinary Shares on the Stock Exchange of Hong Kong
Hong Kong, May 15, 2025 (GLOBE NEWSWIRE) -- Graphex Group Limited (“Graphex Group” or the “Company”) (HKSE: 6128)) announced today that the NYSE American LLC (the “New York Exchange”) has issued a delisting letter for its American Depositary Shares (ADSs) and suspended trading with the symbol “GRFX” as of May 14, 2025. As previously reported, the Company is not in compliance with Sections 134 and 1101 of the NYSE American Company Guide (“Company Guide”) since it failed to timely file with the Se
About this update from Graphex Group Limited
[{"type":"image","alt":"Graphex Group Limited","displaySize":"","headline":null,"caption":"Graphex Group Limited","className":"","disableSlideshowImg":false,"size":{"original":{"width":300,"height":160,"url":"https://media.zenfs.com/en/globenewswire.com/01d03958f099fd12f2e30d9e34aed796"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/BN490aORyCqo11ATVc2I3g--/YXBwaWQ9aGlnaGxhbmRlcjt3PTQyMDtoPTIyNDtjZj13ZWJw/https://media.zenfs.com/en/globenewswire.com/01d03958f099fd12f2e30d9e34aed796","width":300,"height":160}},"lazy":false},{"type":"text","content":"Hong Kong, May 15, 2025 (GLOBE NEWSWIRE) -- Graphex Group Limited (“Graphex Group” or the “Company”) (HKSE: 6128)) announced today that the NYSE American LLC (the “New York Exchange”) has issued a delisting letter for its American Depositary Shares (ADSs) and suspended trading with the symbol “GRFX” as of May 14, 2025. As previously reported, the Company is not in compliance with Sections 134 and 1101 of the NYSE American Company Guide (“Company Guide”) since it failed to timely file with the Securities and Exchange Commission (“SEC”) its Form 20-F for the year ended December 31, 2023 (the “Delayed Filing”) and that the period granted by the New York Exchange to complete the Delayed Filing was May 15, 2025. The ADSs will now trade on the OTC Expert Market operated by the OTC Markets Group, Inc.","length":805,"tagName":"p"},{"type":"text","content":"The OTC Expert Market is a significantly more limited market than the NYSE, and quotation on the OTC Expert Market will likely result in a less liquid market for existing and potential holders of the ADS and could depress the trading price. The Company can provide no assurance that the ADS will trade or continue to trade on this market, whether broker-dealers will provide public quotes, or whether the trading volume will be sufficient to provide for an efficient trading market.","length":482,"tagName":"p"},{"type":"text","content":"The ordinary shares of Graphex Group will continue to trade on The Stock Exchange of Hong Kong Limited. Trading of the ordinary shares on the HKSE is not affected. Additionally, there is no effect on the closing of the previously reported Rights Offering or our business operations. As of May 13, 2025, there are approximately 51,605,000 outstanding ADSs representing approximately 5.5% of the ordinary shares that are issued and outstan...