Renasant (NASDAQ:RNST) Corporation announced on Tuesday that it will be transferring the listing of its common stock from NASDAQ to the New York Stock Exchange (NYSE). The company's common stock is expected to begin trading on the NYSE under its current ticker symbol: RNST, starting Monday, October 9, 2023. Until the transfer is complete, Renasant's common stock will continue to trade on NASDAQ.
Renasant CEO, Mitch Waycaster, expressed excitement about listing the company's common stock on the NYSE, stating that it would provide greater visibility for the company and its shareholders. The move was also welcomed by John Tuttle, Vice Chair of NYSE Group, who highlighted Renasant Bank's long history of financial innovation. In celebration of the transfer, Renasant will ring The Closing Bell® at the NYSE at 4:00 p.m. ET on Monday, October 9, 2023.
On the same day, Kuke Music Holding Limited ("Kuke") disclosed that it received a notice from the NYSE due to non-compliance with the exchange's continued listing standards. The notice was issued as Kuke's average global market capitalization over a consecutive 30 trading-day period fell below $50 million and its shareholders' equity was less than $50 million. As of June 27, 2023, the company's 30 trading-day average global market capitalization was approximately $20.7 million and its last reported shareholders' equity as of December 31, 2022, was $8.8 million.
Kuke has notified the NYSE that it will submit a plan within 45 days of receiving the notice to demonstrate how it will come into conformity with Section 802.01B within an 18-month timeframe. If Kuke fails to submit a timely plan or if it is not accepted by the NYSE, the exchange may initiate delisting proceedings. However, if the NYSE accepts Kuke's plan, the company's ADSs will continue to be listed and traded on the NYSE during the cure period, subject to compliance with the plan and other continued listing standards.
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