Credit Suisse Shares No Longer Fit For New York Listing
NDTV
"The New York Stock Exchange notified Credit Suisse on May 1... that it is no longer in compliance with the NYSE's continued listing minimum price criteria," Credit Suisse said in a statement.
Battered shares in crisis-hit Credit Suisse no longer meet criteria for listing on the New York Stock Exchange, the bank said Wednesday, adding that its upcoming sale to UBS would resolve the issue.
"The New York Stock Exchange notified Credit Suisse on May 1... that it is no longer in compliance with the NYSE's continued listing minimum price criteria," Credit Suisse said in a statement.
Credit Suisse is listed in New York under a "Depositary Shares" scheme that allows foreign firms to sell stock in the United States.
Under NYSE rules, shares must trade for at least $1.00 for 30 consecutive days to qualify for listing.
