Nov 16, 2012 - Chinese photovoltaic (PV) product maker LDK Solar Co Ltd (NYSE:LDK) said Friday it had received a delisting notice for its American depositary shares (ADS) on the New York Stock Exchange (NYSE) as the value of its shares fell below the USD-1 threshold in October.
The delisting notice was triggered after LDK’s depository shares traded at USD 0.99 for 30 consecutive trading days through November 5, LDK Solar said.
According to NYSE regulations, the company's ADS closing price has to exceed USD 1 for a period longer than six months from receipt of the notification.
LDK Solar said it would cure the deficiency within the given timeframe. Meanwhile, its shares will still trade on the NYSE, subject to compliance with other NYSE continued listing standards.
Veselina Petrova is one of Renewables Now's most experienced green energy writers. For several years she has been keeping track of game-changing events both large and small projects and across the globe.