New York Stock Exchange suspends USD 1 listing rule
February 27th, 2009 Leave a comment Visited 25 times, 1 so far today
New York Stock Exchange suspends USD 1 listing rule
Good news for the NYSE listed companies which are struggling in these tough economic times.
New York Stock Exchange has announced that they are suspending the rule related to the USD 1 share price till June 30 this year.
NYSE has a rule that requires the listed companies to keep their shares at above USD 1 or they face delisting.
NYSE Euronext added that they are also now extending a temporary lowering of its market capitalization standard.
NYSE representative Scott Cutler said in a statement: “The overall market downturn has only deepened … causing an even larger number of stocks to fall below our requirements. We are taking proactive measures to ensure that the stocks of NYSE-listed companies can remain listed in the current difficult market conditions, enabling them to be available to the investing public during this period.”
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