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NYSE Euronext announced today that the New York Stock Exchange will extend the temporary suspension of its $1 minimum stock price by an additional monthuntil July 31, 2009. This temporary suspension of the NYSE’s $1 price standard was previously due to expire on June 30, 2009.
In a separate rule filing, the NYSE sought to permanently adopt a lower $15 million minimum 30 day average market capitalization standard. The NYSE had previously eased the previous $25 million threshold level to $15 million on a temporary basis through June 30, 2009.
Today’s action reflects the Exchange’s determination that suitable companies should remain listed during the prior and current period of unusual market volatility.
While the Exchange’s filings submitted to the U.S. Securities and Exchange Commission (SEC) in connection with the adoption of these rule changes are immediately effective, they are subject to a 30-day operative delay under SEC rules.
The Exchange has asked the SEC to waive the operative delay and expects the SEC to take prompt action to effectuate that waiver.
Please click on the following links for the NYSE rule filings:
Price standard:
http://www.nyse.com/extension
Market capitalization standard:
http://www.nyse.com/marketcap
