ADR trade may restart on NYSE today
Satyam Computer’s American Depository Receipts (ADR) at the New York Stock Exchange (NYSE) will come up for review on Monday.india Updated: Jan 11, 2009 21:36 IST
Satyam Computer’s American Depository Receipts (ADR) at the New York Stock Exchange (NYSE) will come up for review on Monday.
The NYSE, which had halted trading in the ADRs of Satyam Computers, is reviewing the listing of the security on the exchange after the stunning revelations about alleged financial irregularities in the company.
The NYSE is reviewing the company’s suitability for continued listing in light of all relevant circumstances and news, including recent filings made with the US Securities and Exchange Commission, it said in a statement.
“Trading on the NYSE may resume on Monday, January 12, 2009, as the NYSE continues its assessment. The NYSE notes that it may, at any time, suspend a security if it believes continued dealings in the security are not advisable,” it added.