Montreal, QC -AbitibiBowater’s share price on the New York Stock Exchange (NYSE) rose to $1.07 on Jan. 7 after a period of trading below $1, however the Montreal, Que.-based company will have to keep …
Montreal, QC -AbitibiBowater’s share price on the New York Stock Exchange (NYSE) rose to $1.07 on Jan. 7 after a period of trading below $1, however the Montreal, Que.-based company will have to keep it up or risk being de-listed.
In December, the NYSE notified AbitibiBowater that its stock had fallen below the continued listing criteria, with the company’s stock trading at an average price of under $1 for more than 30 consecutive days. The company was given six months from the notification date to bring its average share price back over $1. AbitibiBowater’s stock must also close above $1 six months to the day of the warning.
During the six-month period, AbitibiBowater will continue to be listed on the NYSE under the ‘ABH’ symbol, but will also carry a ‘.BC’ symbol to indicate the company is not currently in compliance with the NYSE’s continued listing standards.
AbitibiBowater continues to meet the listing requirements of the Toronto Stock Exchange.
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