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ReneSola regains compliance with NYSE listing standards

ReneSola Ltd. said Oct. 2 that it has regained compliance with the New York Stock Exchange for continued listing standards for the minimum average closing price.

The Chinese solar developer said it received confirmation from the NYSE on Oct. 1 that it regained compliance after the average closing price for its American Depositary Shares, or ADS, for the consecutive 30-trading-day period ended September 30 exceeded $1.

Under the NYSE regulations to regain compliance a company's ADS must have a closing share price of at least $1 on the last trading day of any calendar month during the period and also an average closing share price of at least $1.00 over the 30 trading-day period ending on the last trading day of that month.