China Digital TV Holdings, a conditional access/smart card supplier in China, has lost its listing on the New York Stock Exchange (NYSE).
The company, founded in 2004, had earlier been told that its listing was at risk because its capitalisation had fallen below the $15 million threshold for 30 consecutive trading days.
China Digital had appealed the decision to a committee made up of NYSE directors on October 12th. Nut says that the appeal was unsuccessful.
China Digital says that trading in its shares, now delisted on the NYSE, will continue to be available via the ‘Over The Counter’ (OTC) system and listed as STVVY. “The Company remains committed to continued transparent communications with its shareholders,” said a note from the company.