https://www.miningweekly.com

Harmony's NYSE trading price improves

2nd February 2016

By: Natasha Odendaal

Creamer Media Senior Deputy Editor

  

Font size: - +

JOHANNESBURG (miningweekly.com) – Harmony Gold’s American depositary receipt (ADR) trading price on the NYSE has lifted above the noncompliance threshold.

In September, the company’s ADR price had continually traded below the bourse's continued listing standard, which required a minimum average closing price of no less than $1 per ADR over 30 consecutive trading days, triggering a NYSE notification setting out that Harmony would have to regain compliance within six months.

Harmony’s ADR now complied with the NYSE’s continued listing standard by achieving a minimum closing price of $1 on January 29 and a minimum average over 30 consecutive trading days, a month before the deadline.

Harmony had previously said it would consider available alternatives – such as changing the ratio between the ADRs and the underlying ordinary shares – to cure the share price deficiency and return to compliance with the listing standard.

Harmony’s share price on the JSE rose nearly 1% by 15:00 on Tuesday.

Edited by Creamer Media Reporter

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

AQS Liquid Transfer
AQS Liquid Transfer

AxFlow AQS Liquid Transfer (Pty) Ltd is an Importer and Distributor of Pumps in Southern Africa

VISIT SHOWROOM 
ABB Electrification
ABB Electrification

Electrifying the world in a safe, smart, and sustainable way, ABB Electrification is a global technology leader in electrical distribution and...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.045 0.79s - 110pq - 2rq
Subscribe Now