05:10 PM EDT, 04/11/2024 (MT Newswires) -- Leju ( LEJU ) was notified by the New York Stock Exchange on Thursday of starting proceedings to delist its American depositary shares.

Trading in Leju's ( LEJU ) American depositary shares was suspended after market-close Thursday.

Leju ( LEJU ) is lacking compliance with a listing rule because it has a market capitalization under $50 million over a 30-day period and a shareholders' equity below $50 million. Leju ( LEJU ) has a right to a review of the decision.

However, the company said the ADS will be eligible for quotation on an appropriate tier of the OTC Markets. This will not change obligation to file annual reports and certain other reports with the US Security and Exchange Commission.