New York Stock Exchange Regulation Inc. announced that it determined that the common stock of ProQuest Co. – ticker symbol PQE – should be suspended prior to the opening or such earlier date as the Company commences trading in another securities marketplace or if there is material adverse development. The Company expects its common stock to be quoted on the Pink Sheets following suspension.
The Company has a right to a review of this determination by a Committee of the Board of Directors of NYSE Regulation. Application to the Securities and Exchange Commission to delist the issue is pending the completion of applicable procedures, including any appeal by the Company of NYSE Regulation staff’s decision. The NYSE noted that it may, at any time, suspend a security if it believes that continued dealings in the security on the New York Stock Exchange are not advisable. — nyse
Vojvođanska lists in stock exchange
Vojvođanska Bank shares will be traded at the Belgrade Stock Exchange (BSE) for the first time on Tuesday.
The starting per share price will be at EUR 203, while a total of about 480,000 shares, nominally worth EUR 125, will enter the market outside the stock exchange.
According to the BSE rules the first day of trading can only see a rise of share prices limited to 300, while the drop cannot be lower than 20 percent. Therefore, the banks stock could be worth between EUR 163 and EUR 815 per share.
American Stock Exchange Lists Units Of Alpha Security
The American Stock Exchange today listed the units of Alpha Security Group Corporation under the ticker symbol HDS.U. The Company issued 6M units (excluding over-allotment) at $10.00 unit for gross proceeds of $60M. Each unit consists on one share of common stock and one warrant.
“The American Stock Exchange is pleased to welcome Alpha Security Group Corp. to our market,� said John McGonegal, Senior Vice President of Amex’s Equities Group. “As a newly formed company entering a challenging marketplace, we know Alpha Security Group will benefit from the host of services the Amex provides its listed entities.�
The specialist in Alpha Security Group Corporation will be Cohen Specialists, LLC. — amex
Iraqi Stock Exchange joining International Federation of Bourses
It is expected that Iraqi market for securities will witness important developments during the coming period, when it is hoped that it will join the International Federation of Bourses, as well as completing rules and procedures of circulation for the non-Iraqi, Arabs and foreigners, after the government agreed to that, and authorized the concerned bodies to prepare instructions in this regard.
Also, joining the market to the Union of Asian Bourses was done early last year, and the stage of training on the use of electronic circulation system has been completed, and is continually installing devices and equipment for the direct application of this system and transfer the investors’ files from the participating companies to the deposit center, which will help in dealing with everyday problems of the work in the Stock Exchange and speed up the circulation of shares, as well as encourage investors to train and move to electronic trading and accept the inclusion of new companies in the market.
It is noteworthy that the Iraqi market for securities implemented during 2006 93 circulation sessions at the rate of two sessions per week, during which 58 billion shares were circulated, worth 146 billion dinars.
Algeta listed on the Oslo Stock Exchange
The Company’s listing in Oslo takes place in connection with its successful initial public offering, which raised gross proceeds of approximately NOK 250 million ($41 million) for Algeta. The IPO was more than two times oversubscribed at the offer price of NOK47, valuing the company at NOK 773.8 million ($127.1 million) post-IPO.
Algeta ASA is a Norwegian therapeutics company built on world-leading expertise in nuclear medicine and oncology and dedicated to the development of novel anticancer therapeutics based on alpha particle emitting radionuclides.
By harnessing the unique characteristics of alpha emitters, such as high potency and short range, Algeta is developing new therapeutic candidates and technologies targeting metastatic and disseminated tumors and promising unrivalled potency without unacceptable toxicities.
Algeta’s lead product candidate, Alpharadin, has completed one Phase II trial and is currently in two further Phase II clinical trials as a potential new treatment of hormone refractory prostate cancer. Based on results to date, it is expected to progress to clinical Phase III trials. Alpharadin is a novel bone-seeking radiopharmaceutical based on the alpha particle emitter radium-223 and may potentially target skeletal metastases from multiple cancer types.
Luxembourg Stock Exchange Launch Partnership Agreement
Euronext and the Luxembourg Stock Exchange today announced the signature of a Master Agreement1 giving concrete form to an agreement for mutual cooperation established during prior discussions between the two parties. This agreement will lead to the creation of a European Economic Interest Grouping from April 2007, bringing together as its first members the two founders – Euronext and the Luxembourg Stock Exchange. The EEIG’s purpose will be to develop a shared standard for listing and trading corporate bonds through the use and promotion of a comprehensive, integrated solution based on leading-edge technology.
Pending authorization from the relevant regulatory and competition authorities Jean-François Théodore, Chairman of the Managing Board and CEO of Euronext, commented: “Just one year after discussions first began between our exchanges, Euronext and the Luxembourg Stock Exchange are taking the initial agreement one step further. With this new agreement, we will soon be able to offer a European standard for listing and trading corporate bonds.� Raymond Kirsch, Chairman of the Board of Directors of the Luxembourg Stock Exchange, said: “Our tie-up with Euronext reflects an entrepreneurial strategy aimed at consolidating our technological and commercial resources to create a shared label covering operations linked to corporate bond issues on the one hand, and make best commercial use of the results of our combined efforts in this area on the other.�
American Stock Exchange to Host Leading Metals Companies at Its Fourth Annual Precious & Base Metals Investor Conference
The conference will kickoff on Wednesday morning with a keynote address from Dr. Michael Berry, a pioneer in the emerging field of “discovery investing.” Dr. Berry is a leading researcher on companies that focus on discovery in natural resources. He is also the publisher of “Morning Notes,” a daily newsletter that addresses geopolitics and their effect on the capital markets.
Also on April 11, Jim Sinclair, a precious metals specialist and a commodities and foreign currency trader, will give a lunch presentation. Mr. Sinclair is the chairman of Tanzanian Royalty Exploration , and has authored numerous magazine articles and three books dealing with a variety of investment subjects, including precious metals.
The American Stock Exchange(R) (Amex(R)) offers trading across a full range of equities, options and exchange traded funds (ETFs), including structured products and HOLDRS(SM). In addition to its role as a national equities market, the Amex is the pioneer of the ETF, responsible for bringing the first domestic product to market in 1993. Leading the industry in ETF listings, the Amex lists 267 ETFs to date. The Amex is also one of the largest options exchanges in the U.S., trading options on broad-based and sector indexes as well as domestic and foreign stocks. For more information, please speak with the Contact above.
Tokyo Stock Exchange names new president
Atsushi Saito, the new president of the Tokyo Stock Exchange, is a former Nomura Securities Co. Ltd. executive, according to published reports. Mr. Saito most recently served as head of the Industrial Revitalisation Corporation of Japan, a state-run effort to help collapsed companies.
He takes the place of Taizo Nishimuro, who will become chairman of the TSE, reports said. The appointment of Mr. Saito, considered an internationalist, comes as exchanges make efforts to link up with foreign bodies to create global markets, reports said.
TSE hasn’t gained much traction in that effort and the hiring of Mr. Saito is a step to change that, reports said.
Montreal Exchange stock jumps on debut trading day
The exchange, Canada’s oldest, has traded on an over-the-counter basis since demutualizing in 2000. It announced last year it would list its shares publicly, although not by way of an initial public offering. The move comes amid a wave of consolidation among exchanges globally that has pushed valuations of publicly traded bourses higher. “When you put those two factors together, it argues that Montreal can grow at very strong rates going forward.”
The MX stock price on Tuesday implies a valuation of about 37 times 2007 estimated earnings, according to Dundee Securities. This is well above the comparable ratio of about 25 for Toronto Stock Exchange owner TSX Group Inc. (TSX:X), but lower than NYMEX and comparable with the Chicago Mercantile Exchange. Analysts say derivatives exchanges are typically awarded a higher valuation than cash equity exchanges.
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