SunEdisons common stock will be de-listed from the New York Stock Exchange (NYSE) on May 17, according to a company filing with financial regulators. Trading of SunEdisons stock was frozen by NYSE on April 21, following the companys chapter 11 bankruptcy filing.
NYSE has the right to de-list companies that have filed for bankruptcy.
This is the bitter end for holders of SUNE stock, which was valued at over $30 per share in July before the company announced that it would require residential installer Vivint Solar. Following the Vivint announcement, the stock began a collapse which would see its value reduced by 99% over the next nine months.
SunEdison continues its reorganization under the Chapter 11 process. On Monday the company announced that it had appointed John Dubel, an outside expert on corporate restructuring, as chief restructuring officer.
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