Latest News:  
Beijing   Cloudy    28 / 20 ℃  City Forecast

English>>China Business

Suntech confident despite NYSE’s delisting warning

By Ji Beibei (Global Times)

08:31, September 25, 2012

The world's largest solar panel maker by capacity Suntech Power Holdings Co said Monday it is confident of staying afloat following a warning by the New York Stock Exchange (NYSE) of a delisting in the event of continued poor performance in the stock market.

"We have confidence to avoid delisting and will find ways to pay off our debts by March next year," Suntech spokesman Zhang Jianmin told the Global Times Monday, without elaborating on how.

The Wuxi, Jiangsu Province-based firm announced Friday it has been notified by the NYSE that the company has failed to meet the price criteria for continued listing because, as of September 10, 2012, the average closing price of Suntech was less than $1 per American Depositary Shares (ADS) for 30 consecutive trading days.

Under the NYSE rules, Suntech has a six-month correction period to avoid delisting, if "its shares have a closing price of at least $1 per share on the last trading day of any calendar month during the period and also have an average closing share price of at least $1 over a 30 trading-day period," said the statement.


【1】 【2】



News we recommend:
China, US battle over auto parts New Silk Road future of trans-Eurasian freight Islands 'purchase' hurts major industry sectors
Global mobile brands find lines busy in China NDRC raises fuel prices Gearing up for knowledge economy
Grape expectations from Argentina  Secrets of the Chinese travelers Secrets of a successful PE firm

Email|Print|Comments(Editor:李倩、厉振羽)

Leave your comment0 comments

  1. Name

  

Selections for you


  1. PLA Special Forces in island landing and detection drill

  2. Different faces, different lives

  3. New Silk Road future of trans-Eurasian freight

  4. National Peasants' Game in China

  5. Kitten's world

  6. Most precious diamonds around world

Most Popular

Opinions

  1. Microsoft wisely teams with Beijing to fight piracy
  2. Japan needs examination of wartime aggression
  3. Is Chinese economy sliding into dangerous position?
  4. Naval expert: Aircraft carrier will play a major role
  5. No protests can ever justify use of violent acts
  6. Prepare for long-term struggle over Diaoyu
  7. Gearing up for knowledge economy
  8. Editorial: Protectionism harmful
  9. US attack of Chinese autos baseless
  10. Stronger China-EU partnership benefits both sides

What's happening in China

Office staff fear falling elevators

  1. HK activists slam 'zone for rich'
  2. Taiwan civilian ship enters Diaoyu Islands waters
  3. China sees growing elderly 'empty-nesters'
  4. Quake emergency plan stresses quick response
  5. China stresses train punctuality during holidays

China Features

  1. Visual spectacle in the eyes of Chinese diplomats
  2. Focus on North Korea's schoolgirls
  3. US suffers 'Arab winter'
  4. To live an amazing life
  5. Survivors tell you how to survive traffic accidents

PD Online Data

  1. Ministry of Water Resources
  2. Ministry of Railways
  3. People's Bank of China
  4. Ministry of Health
  5. Ministry of Culture