NYSE may de-list Bombay’s stock
Retailer could move to OTC trading
By Furniture Today Staff -- Furniture Today, May 25, 2007
FORT WORTH, Texas — Retailer The Bombay Company said this week that its stock could be de-listed by the New York Stock Exchange because the share price and market capitalization have fallen below the exchange’s minimums.
Bombay, which has been struggling financially for months, has seen its stock price fall below $1 per share for 30 consecutive trading days. In addition, market capitalization has fallen below the required NYSE minimum of $75 million.
The retailer, which planned to announce its first quarter operating results today, said it would submit a plan to regain compliance with NYSE listing requirements. However, the company said it may have to make arrangements to have its stock traded on the over-the-counter bulletin board or similar quotation system.
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