The new SEC 18-months rule - a Shell has to be conducting a business by the end of it or be delisted to the “ Expert Market “ which has no public quotation.
The 18 - months period starts on the first day of the Shell’s public quotation by a market maker.
“ In the hope of putting a stop to that, the new rule specifies that a shell company can only continue to trade for 18 months following its initial quotation by a market maker. If it is still a shell after that time, it will no longer qualify for public quotation. “
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