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With stock market listed PV manufacturers share prices having being battered all-year and now trading at all-time lows, Suntech is one of the first major players now threatened with delisting from the New York Stock Exchange (NYSE), after receiving notification from the exchange.
Under NYSE rules and regulations, Suntech’s shares (NYSE: STP) have traded below the US$1.00 threshold for more than month, triggering the delisting motion. However, Suntech has 6-months to effectively support the shares to climb above the threshold on the last trading day of any calendar month during the period and also have an average closing share price above the threshold over the 30 trading-day period ending on the last trading day of that month or on the last day of the cure period.
Suntech did not say what potential actions it may undertake to alleviate the threat of delisting.