NYSE Plans LDK Solar Delisting on ’Abnormally’ Low Price
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The New York Stock Exchange suspended trading of LDK Solar Co.’s American depositary receipts and initiated proceedings to delist the Chinese solar manufacturer because of “abnormally low” prices.
The NYSE determined the Xinyu, China-based company’s ADRs are no longer suitable for listing, the exchange said today in a statement. They haven’t traded in the U.S. since March 18, when they closed at $1.01.