Friday, May 22, 2015
Current Weather
Loading Current Weather....
Published: Tuesday, 2/24/2009

NYSE cautions Libbey its stock faces delisting

Toledo glassware manufacturer Libbey Inc. has been notified by the New York Stock Exchange that its stock is in danger of being delisted because the shares lack sufficient market value.

Rules require a value of at least $75 million. Libbey shares closed Monday down 11 cents at $1.03 each, giving the company a market value of $11 million, according to Yahoo Finance. In a filing with the U.S. Securities and Exchange Commission last week, the firm said it plans to provide the exchange with a business plan for complying within 18 months with listing standards.

Firms whose shares are delisted by major exchanges typically trade on over-the-counter markets. Toledo s Dana Holding Corp. is under a similar de-listing notification from NYSE.

Recommended for You

Guidelines: Please keep your comments smart and civil. Don't attack other readers personally, and keep your language decent. If a comment violates these standards or our privacy statement or visitor's agreement, click the "X" in the upper right corner of the comment box to report abuse. To post comments, you must be a Facebook member. To find out more, please visit the FAQ.