Published:
March 3, 2009 12:04 pm EST
Magna Entertainment has announced that it has been slapped with a delisting notice from the Toronto Stock Exchange, which told the horse racing and gaming company
that it would be delisted from the index as of April 1.
The company's shares were at 35 Canadian cents on the TSX today. At the beginning of 2006, MEC was trading at C$166.40 ($128) a share.
According to an article by Reuters, the TSX company manual gives several criteria for delisting, including considerations about market valuation and public disruption, as well as financial condition and/or operating results.
To read the Reuters article in its entirety, click here.
(With files from Reuters)
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