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NYSE to suspend trading in General Steel Holdings

Staff Writer | July 18, 2016
The New York Stock Exchange (NYSE) has determined to commence proceedings to delist the common stock of General Steel Holdings from the NYSE.
General Steel Holdings
Going out   At least $50 million in equity was needed
Trading in the company’s common stock on the NYSE will be suspended immediately. The company had previously been deemed below compliance with the NYSE’s continued listing standard requiring listed companies to maintain either at least $50 million in stockholders’ equity or at least $50 million in total market capitalization on a 30 trading day average basis.

The Exchange had accepted the company’s plan to regain compliance with this requirement within a maximum 18 month period.

NYSE Regulation reached its decision to delist the common stock because the Company was unable to demonstrate that it had regained compliance with the applicable listing standard by the expiration of its 18 month plan period.