Natuzzi ADSs on NYSE suspended as exchange starts delisting process - NTZ News | RalliesNatuzzi ADSs on NYSE suspended as exchange starts delisting process
N
NTZ• NYSE suspends Natuzzi ADSs and begins delisting proceedings
- NYSE suspended trading in Natuzzi American Depositary Shares, ticker NTZ, on Aug. 26.
- NYSE began delisting proceedings over failure to meet Section 802.01B’s US$ 15 million average global market-cap threshold for ADSs.
- Natuzzi is reviewing the determination, weighing an appeal under NYSE procedures.
- Without a successful appeal, delisting would take effect 10 days after NYSE files Form 25 with the SEC.
- ADSs are expected to move to the over-the-counter market if delisted; Natuzzi does not plan to terminate the ADS facility.
