The New York Stock Exchange (NYSE) has notified Suntech Power Holdings Company Ltd. (Wuxi, China) that it has not met the NYSE's price criteria for continued listing, as the average price of Suntech stock has fallen below USD 1 per share over a 30-day period.

Suntech has six months following receipt of the notification to regain compliance with this requirement, which the company says that it intends to do. The company's shares will continue to be listed and traded on the NYSE, subject to compliance with NYSE standards and oversight.

Suntech can regain compliance if its shares reach a closing price of USD 1 per share on the last trading day of any month during the period and maintain an average closing price of at least USD 1 per share over the monthly trading period.

Along with an ongoing crisis of profitability, PV manufacturers have generally seen a collapse in stock prices over the last 12 months.

2012-09-24 | Courtesy: Suntech | solarserver.com © Heindl Server GmbH

Our editorial selection of breaking solar news is published at:
www.solarserver.com/solar-magazine/solar-news/top-solar-news.html