NYSE may de-list Bombay’s stock
By Staff -- Home Textiles Today, 5/25/2007 9:37:00 AM
Fort Worth,Texas— Home furnishings specialty retailer The Bombay Company said that its stock could be de-listed by the New York Stock Exchange (NYSE) because the share price and market capitalization have fallen below the exchange’s minimums.
, which has been struggling financially for months, has seen its stock price fall below $1 per share for 30 consecutive trading days. In addition, market capitalization has fallen below the required NYSE minimum of $75 million.
The retailer, which planned to announce its first-quarter operating results today, said it would submit a plan to regain compliance with NYSE listing requirements. However, the company said it may have to make arrangements to have its stock traded on the over-the-counter bulletin board (OTC) or similar quotation system.
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