Suntech shares to be de-listed from NYSE 14. FEBRUARY 2014 | INDUSTRY & SUPPLIERS, INVESTOR NEWS | BY: MAX HALL Shares in what is left of Suntech are set to be removed from the New York bourse. The news comes days after Suntechs liquidators announced they would be stepping up recovery efforts and would be examining the Wuxi Suntech acquisition by Shunfeng Photovoltaic. Suntechs former Wuxi headquarters. Suntech Power Holdings has lost its appeal against having its shares de-listed from the NYSE. Suntech Chinese former giant Suntech today announced its American Depository Shares are set to be de-listed from the New York Stock Exchange. In an update to investors on its website, the Cayman Islands-registered Suntech Power Holdings company left after the sale of the main Wuxi Suntech manufacturing operations to Chinese rival Shunfeng Photovoltaic International, announced a decision by the NYSE regulation body to de-list its shares has been upheld by the exchanges committee for review. The company is expecting a de-listing form from the U.S. Securities and Exchange Commission (SEC) shortly. Suntech Power Holdings, which is being liquidated, this week announced its creditors are owed US$264 million by the Suntech Singapore unit which was transferred to Shunfeng as part of the acquisition. The joint liquidators of the parent company also announced they are investigating the terms under which Shunfeng acquired the parents equity interest in Wuxi Suntech as well as in subisidiaries in Singapore and Japan. Read more: pv-magazine/news/details/beitrag/suntech-shares-to-be-de-listed-from-nyse_100014242/#ixzz2tZ3Eu2fm
Posted on: Mon, 17 Feb 2014 08:02:18 +0000
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