Gmarket (GMKT) To Delist From NASDAQ
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Gmarket Inc. (NASDAQ: GMKT) announced that it has notified the NASDAQ Stock Market of its intention to delist voluntarily its American Depositary Shares (the "ADSs") from the NASDAQ Global Select Market. Gmarket is taking the action to delist the ADSs because of the small number of record holders and outstanding ADSs that it expects to remain following the completion of the tender offer by eBay KTA (UK) Ltd., a wholly owned subsidiary of eBay Inc. (Nasdaq: EBAY) for all outstanding common shares and ADSs of Gmarket, and because it expects that the ADSs will not meet the continuing listing standards of the NASDAQ Global Select Market following the completion of the tender offer.
Gmarket has not and does not intend to arrange for the listing of the ADSs on another securities exchange or for quotation of the ADSs in a quotation medium.
Gmarket Inc. is a retail ecommerce marketplace in Korea, offering buyers a wide selection of products at competitive prices and sellers a comprehensive and flexible sales solution. [SM]
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