Southern Park Mall Owner Voluntarily Delists from NYSE
COLUMBUS, Ohio – The owner of the Southern Park Mall has announced it intends to voluntarily delist from the New York Stock Exchange.
Washington Prime Group Inc., which trades under the ticker WPG, said Tuesday morning that the company intends to file a Notification of Removal from Listing by Sept. 20 with the U.S. Securities and Exchange Commission. The last day of trading for the company’s preferred and common stock is Sept. 29.
“It is expected that the company’s common stock and preferred stock will be removed from listing and registration on the NYSE at the opening of business on or about Sept. 30, 2021,” Washington Prime said in a statement.
Washington Prime, which owns the Southern Park Mall in Boardman and 102 retail properties across the country, filed for Chapter 11 bankruptcy June 13 in Houston.
“Because the company’s common stock and preferred stock will no longer be publicly held upon its expected emergence from its previously announced Chapter 11 proceedings, the company believes that the costs and expenses associated with the continued listing of the common stock and preferred equity, and the corresponding governance and filing requirements, are not economically justified,” Washington Prime said in a statement.
Washington Prime does not intend to arrange for listing or registration of common or preferred stock on another stock exchange and does not plan to take any action to facilitate trading on an over-the-counter market, the company said.
Copyright 2021 The Business Journal, Youngstown, Ohio.