The threat to Suntech Power Holdings of delisting from the New York Stock Exchange's (NYSE) has been averted after its stock price regained compliance.
Suntech's average stock price was above the US$1.00 minimum bid price for 30 consecutive trading days ending December 31, 2012.
The company follows, LDK Solar and JA Solar in avoiding delisting after receiving notices last year. The majority of listed PV related companies have benefited from several positive factors that have generated a rally in investor’s interest in solar stocks over the last two-months.
The rally was driven by increased PV installation targets announced by the Chinese government, which are expected to boost shipments by leading Chinese tier 1 suppliers in 2013. The rally was also supported by a settlement on the US budget and further indirect investments in PV power plants by Warren Buffett.