Verso
Paper Corp., which operates two paper mills in Maine, is trying to save itself
from being delisted from the New York Stock Exchange.
The
NYSE on June 25 said it had commenced proceedings to delist Verso's common
stock, traded under the ticker symbol VRS, because the company's market
capitalization - the market value of the company's outstanding shares - had
fallen below the required threshold.Specifically, the company, which is majority owned by private equity firm Apollo Global Management, had failed to maintain a market capitalization of at least $75 million over 30 consecutive trading days. Verso's market cap was $52.4 million as of the end of trading on July 18.
