logo
Share SHARE
FONT-SIZE Plus   Neg

Panasonic Reports Delisting Schedule From NYSE - Quick Facts

Panasonic Corp. (PC) announced the delisting schedule from the New York Stock Exchange or "NYSE" and notified to the NYSE on April 1, 2013 that it will apply for voluntary delisting of its American Depositary Shares or "ADSs", in relation with its announcement on March 28, 2013 on its intention of delisting from the NYSE.

Panasonic listed its ADSs on the NYSE in December 1971 primarily to promote trading of its shares and to raise the visibility of the Panasonic brand in the U.S.

While the company believes the initial objectives of the U.S. ADS listing were mainly achieved, it judges that the continued listing on the NYSE is not economically justified, considering the fact that the trading volume of Panasonic's ADSs on the NYSE accounts for only a small fraction of the total trading volume of Panasonic's shares. Hence, Panasonic would apply for voluntary delisting of its ADSs from the NYSE and for termination of registration of its ADSs with SEC under the Exchange Act.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Samsung is planning to sell the recalled Galaxy Note 7 devices as refurbished or rental phones where applicable, but not in US. In a statement, the company said, "Regarding the Galaxy Note 7 devices as refurbished phones or rental phones, applicability is dependent upon consultations with regulatory authorities and carriers as well as due consideration of local demand. The markets and release dat Hollywood is spending more than ever to produce movies, with new technology and computer graphics imaging (CGI) bringing superheroes to life. Directors constantly one-up one another with special effects, while actors like Johnny Depp or Tobey Maguire are demanding beaucoup bucks to reprise their... Sluggish sales of video games have forced GameStop to take a decision to close around 150 retail locations. Digital downloads and competition from rivals are said to be the reason for shut down. The company operates around 6600 stores worldwide and has not revealed the list of shops to be closed. According to reports GameStop is planning the closure of up to 3 percent of their shops.
comments powered by Disqus
Follow RTT