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New York Stock Exchange to delist Pyxus

19 Jun 2020. The New York Stock Exchange has commenced proceedings to delist Pyxus’ common stock, according to a company press release.

The trading of Pyxus’ common stock had already been suspended and, on 19 June, the company announced that NYSE had started the proceedings to remove the company’s common stock listing. The NYSE determined that company was no longer suitable for listing after Pyxus announced 15 June that it had filed for bankruptcy under Chapter 11 of the US Bankruptcy Code. Pyxus does not intend to appeal the decision.

According to the report, Pyxus’ common stock began to be traded on the OTC Pink marketplace on 17 June, although the company does not anticipate that this will affect its operations. However, the report also stated, “The Company can provide no assurance that its common stock will continue to trade on this market, whether broker-dealers will continue to provide public quotes of the Company's common stock on this market, whether the trading volume of the Company's common stock will be sufficient to provide for an efficient trading market or whether quotes for the Company's common stock may be blocked by OTC Markets Group in the future.”