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

Editors Pick
Facebook Inc. (FB), Wednesday reported a jump in profit for the second quarter, as the social networking giant's bottom line continues to be driven by soaring ad revenues. Both earnings and revenues trumped Wall Street expectations, sending shares up by 6 percent in the extended hours. Menlo Park,... Boeing Co.(BA) reported a loss for the second-quarter 2016 compared to profit in the prior year, reflecting 787 cost reclassification and charges on the 747 program and the KC-46 Tanker program, partially offset by solid execution and higher volume. It cut its profit outlook for fiscal year 2016, while it reaffirmed annual revenue guidance. Automaker Fiat Chrysler Automobiles NV on Wednesday reported a 25 percent increase in profit for the second quarter from last year. However, quarterly net revenues and worldwide shipments declined from last year.
comments powered by Disqus
Follow RTT