Stock exchange may de-list Valassis
Media and marketing services company Valassis may become de-listed from the New York Stock Exchange, the company disclosed.
Valassis said it received notice from the NYSE that it was “not in compliance with certain continued listing standards applicable to our common stock.”
A company representative declined to comment further.
The company is below criteria because both the average market capitalization of its common stock over a consecutive 30 trading-day period was less than $75 million and its stockholder equity was less than $75 million.
As of February 18, Valassis' 30 trading-day average market capitalization was approximately $70.2 million. As of December 31, its stockholders' equity was $5.4 million, down from $241.2 million as of September 30.
Valassis has 45 days to submit a business plan to the exchange that shows it can return its listing requirements to compliance.