Marine Link
Friday, December 9, 2016

Trading Is Suspended On FGH's Common Stock

April 20, 2001

The New York Stock Exchange said on Friday it suspended trading in the common stock of Friede Goldman Halter, the troubled maker of offshore equipment for the energy industry, in view of the company's filing for bankruptcy protection.

The NYSE said the suspension of trading in the Gulfport, Miss.-based company would go into effect immediately, and that an application with the Securities and Exchange Commission to de-list the stock is pending an appeal by the company.

The company, which filed for Chapter 11 bankruptcy protection on April 19, has recently failed to meet the NYSE's continued listing criteria relating to inability to meet current debt obligations and adequately finance operations.

The NYSE said the company's stock was selling at an abnormally low price. Shares of FGH last traded at $.20, a penny above their 52-week low.



 
Maritime Reporter Magazine Cover Nov 2016 - Workboat Edition

Maritime Reporter and Engineering News’ first edition was published in New York City in 1883 and became our flagship publication in 1939. It is the world’s largest audited circulation magazine serving the global maritime industry, delivering more insightful editorial and news to more industry decision makers than any other source.

Subscribe
Maritime Reporter E-News subscription

Maritime Reporter E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

Subscribe for Maritime Reporter E-News