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

Editors Pick
Retailers could see record web traffic this year as more consumers then ever before plan to shop online, according to Deloitte's 31st annual holiday survey of consumer spending intentions and trends. The survey found that holiday shoppers this year plan to spend just as much as online as they spend in brick and mortar stores. Oil giant Chevron Corp. on Friday reported a 37 percent decline in profit for the third quarter from last year, reflecting lower oil prices and weak refining margins. However, both revenue and earnings per share for the quarter beat analysts' estimates. In addition, the company raised its quarterly dividend. Mastercard Inc. (MA) reported a profit for the third quarter of 2016 that increased about 21 percent from the year-ago period, while it was up 15% excluding a special item related to the termination of the U.S. employee pension plan taken in last year's third quarter. Both earnings per share and revenue for the quarter beat analysts' expectations.
comments powered by Disqus
Follow RTT