- NYSE said Wednesday it will begin proceedings to delist the American Depositary Shares, each representing 10 class A shares, of Fang Holdings (NYSE:SFUN).
- Trading in SFUN's ADSs will be suspended immediately.
- This decision was made as SFUN is a late filer and has not filed its annual report on Form 20-F for the year ended Dec. 31, 2020 and current report on Form 6-K for the half year ended Jun. 30, 2021 with the SEC.
- SFUN did not complete the delayed filings by May 17, 2022, which was the maximum time allowed.
- The company has a right to review NYSE's decision.
- The NYSE will apply to the SEC to delist the ADSs once all applicable procedures are completed, including any appeal by SFUN.