By Dean Seal
Shares of Regis rose after the company said it requested an oral hearing of the New York Stock Exchange’s decision to start delisting proceedings for its stock.
The stock was up 15% at $11.96 in premarket trading. When the market closed Thursday, shares had fallen 57% year-to-date.
The Minneapolis-based hair-salon operator said after the bell on Thursday that it will present a plan of compliance at the hearing and is continuing to evaluate all of its listing options.
Regis said earlier this month that the exchange had started the delisting process because the company had been deemed out of compliance with a requirement to maintain at least $50 million in stockholders’ equity or at least $50 million in total market capitalization on a 30-trading day average basis.
The stock will continue to be listed and traded on the exchange while Regis’ appeal of the exchange’s delisting remains pending.
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