MADRID, 31 May. (EUROPA PRESS) -
Credit Suisse was warned on May 1 by the New York Stock Exchange (NYSE), the manager of the New York Stock Exchange, that it no longer meets the established minimum continuous listing price criteria.
According to the notification, the Swiss entity failed to meet the fixed minimum continuous listing price criteria, which require listed companies to maintain an average closing price of shares of at least $1 over a period of 30 consecutive business days.
In this regard, Credit Suisse has indicated that it expects the deficiency to be resolved upon completion of its acquisition by UBS Group, announced on March 19.
"Once the acquisition is consummated, UBS will be the surviving entity," the Swiss bank said, explaining that in connection with the acquisition, the Credit Suisse common shares underlying its American Depositary Shares will be exchanged for the right to receive a fraction of one UBS common share and will be delisted from the New York Stock Exchange as a result.