ShippingWatch

TORM maintains U.S. listing the rest of the year

Torm has had its deadline for complying with the minimal requirements of a stock price of USD 1 for a NASDAQ listing extended to December 24th of this year. That means the shipping company maintains its stock listing.

The deadline is Christmas Eve 2012. That is the message from the American stock exchange Nasdaq to Torm, who is right now unable to comply with the stock exchange’s requirement of a minimum share price of USD 1. Nasdaq has extended the deadline with six months, which gives Torm 180 days extra to document that the selling price of its share is at least one US dollar.

As such, the company - which is currently hard at work on a final restructuring model – has managed to maintain its U.S. stock listing.

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