The New York Stock Exchange announced the de-listing of National Equipment Services. NES fell below listing standards for share price and other measurements.
The NYSE said NES fell below global market capitalization, total shareholder equity and share price standards for continued listing. For companies to remain listed on the NYSE, they must maintain a minimum of $50 million in total market capitalization and at least $50 million in stockholder's equity. A company’s common stock must trade at a minimum average share price of $1 over a 30-day period.
NES notified the NYSE that it plans to have its shares traded on the OTC Bulletin Board and will not challenge the de-listing, NYSE officials said.
Evanston, Ill.-based NES is No. 4 on the RER 100.
