The New York Stock Exchange will delist Natuzzi S.p.A.’s American Depositary Shares (ADSs) after the Italian furniture company’s market capitalization fell below the exchange’s minimum requirement.
Under Section 802.01B of the NYSE Listed Company Manual, issuers must maintain an average global market capitalization of at least $15 million over a consecutive 30-trading-day period. NYSE Regulation staff determined Natuzzi’s market cap no longer satisfied this threshold.
Trading in the company’s ADSs, each representing five ordinary shares, was suspended immediately following the announcement. The NYSE has notified Natuzzi of the delisting decision and initiated the formal delisting process.
Natuzzi retains the right to appeal the decision to a committee of the exchange’s board of directors. If an appeal is filed, the NYSE will review the submission before proceeding. The exchange plans to file an application with the U.S. Securities and Exchange Commission to complete the delisting only after all applicable procedures, including any appeal, have concluded.
The delisting follows a period of sustained decline in Natuzzi’s market valuation, which triggered the NYSE’s minimum capitalization rule. The company has not yet commented on the development.
