LDK Solar Seeks to Boost ADS Price After Warning From NYSE
LDK Solar Co. said it’s seeking to boost the value of its American depositary shares after recieving a warning from the New York Stock Exchange that it’s not meeting the listing requirements.
The ADSs that represent shares of the Chinese solar panel maker didn’t meet the exchange’s standards to have a closing price of $1 or more over a consecutive 30-day trading period as of Nov. 5, LDK said in a statement today.
“The company has notified the NYSE of its intention to cure this deficiency,” LDK said in a statement.
Suntech Power Holdings Co., LDK’s bigger rival, disclosed a similar warning on Sept. 21 and also said it will work to boost its stock.
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