By: E&P Staff
Tuesday will be the last day of Big Board trading for Journal Register Co., which said it will not appeal the New York Stock Exchange’s (NYSE) decision to delist the company.
Journal Register said it will be traded in the over-the-counter market after it is delisted prior to the opening of trading Wednesday.
NYSE notified Journal Register on Friday that it intended to delist the publisher of 23 dailies by Wednesday, rather than give it the usual six months to raise its stock and market capitalization. Journal Register stock (NYSE: JRC) has traded below $1 since Feb. 29, and had an indicated market capitalization as of Monday of $12.2 million, well below the $75 million minimum standard for NYSE listing.
Journal Register closed at 31 cents Monday, up 5 cents, or 17% on the day.