Quick Facts
FONT-SIZE Plus   Neg
Share SHARE

Panasonic Reports Delisting Schedule From NYSE - Quick Facts

Panasonic Corp. (PC: Quote) 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.

Click here to receive FREE breaking news email alerts for Panasonic Corp. and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
Stocks moved sharply lower over the course of the trading day on Wednesday, adding to the modest weakness seen in the two previous sessions. With the losses on the day, the major averages fell to their lowest closing levels in over a month. Democrats have climbed into the lead on a generic ballot, according to the results of a new CNN/ORC International poll, although the results may not be as positive for the party as they first appear. With spending on private and public construction both showing notable decreases, the Commerce Department released a report on Wednesday showing an unexpected drop in U.S. construction spending in the month of August.
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.