Secoo Receives Delisting Notice from Nasdaq and Plans to Request Hearing
BEIJING, Nov. 17, 2023 (GLOBE NEWSWIRE) — Secoo Holding Limited (“Secoo” or the “Company”) (NASDAQ:SECO) today announced that on November 14, 2023, it received a Staff Delisting Determination (the “Staff Determination”) from the Listing Qualifications Staff of The Nasdaq Stock Market LLC (“Nasdaq”), which notified the Company that the Nasdaq Listing Qualifications Staff has initiated a process to delist the Company’s American Depositary Shares (the “ADSs”) from Nasdaq. The Staff Determination will not immediately result in the suspension of trading or delisting of the Company’s ADSs, and the Nasdaq Listing Rules provide a procedure for the Company to appeal the Staff Determination to a Nasdaq Hearings Panel and seek a stay of suspension pending the outcome of the hearing, as described below.