NYSE moves to de-list Dan River
Heath E. Combs -- Home Textiles Today, January 29, 2004
NEW YORK — The New York Stock Exchange said it will suspend trading in shares of Dan River on Feb. 3 or earlier, and de-list the stock from the Big Board. The action comes after the stock fell below the exchange's minimum share price requirement of $1.
Finding a new home for its common stock, Dan River said it "intends to seek to trade its class A common stock on the OTC (over the counter) bulletin board."
Dan River is the latest casualty of stunted share prices in the home fashions business, and earlier the New York Stock Exchange had de-listed WestPoint Stevens, Pillowtex and Crown Crafts. In the dwindling universe of publicly owned home fashions producers, only Mohawk Industries, Quaker Fabric and Culp can now boast of stock worth more than $1.00 per share.
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