Angeliki Frangou-led dry bulk shipping company Navios Maritime Holdings is once again in compliance with the New York Stock Exchange’s (NYSE) continued listing requirement of a minimum average closing price of USD 1 per share, according to a notice the company received on September 1.
At the close of trading on August 31, the average closing price of the company’s common stock for the previous 30 trading-days was above USD 1 per share and its closing share price on August 31, 2016 was USD 1.
On June 7, the shipping firm received a notice from the NYSE that it was no longer in compliance with its continued listing standards as it did not meet NYSE’s standards.
Namely, Navios Holding’s average closing price for its common stock over a consecutive 30 trading-day period was less than USD 1 per share.
Navios earlier said that the NYSE’s notification would have no impact on the company’s business operations, nor its Securities and Exchange Commission reporting requirements.