Suntech Faces Possible Delisting From NYSE

Posted by SI Staff on September 21, 2012 No Comments
Categories : New & Noteworthy

Suntech Power Holdings Co. Ltd. says it has been notified by the New York Stock Exchange (NYSE) that it did not meet the NYSE's price criteria for continued listing standard.

As of Sept. 10, the average closing price of the company's American depositary shares (ADS) was less than $1.00 per ADS over a consecutive 30-trading-day period. Under NYSE rules, Suntech has six months following receipt of the notification to regain compliance with the minimum share price requirement.

The company can regain compliance if its ADS have a closing share price of at least $1 on the last trading day of any calendar month during the period, and also has an average closing share price of at least $1 over the 30 trading-day period ending on the last trading day of that month or on the last day of the cure period.Â

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