U.S.-flag containership operator Horizon Lines, Inc. sats that its common stock will begin trading on the OTCQB marketplace. Investors will be able to view the Real Time Level II stock quote, which provides detailed quote information by market maker, for Horizon Lines at http://www.otcmarkets.com under the ticker symbol HRZL.
The transition to the OTCQB Marketplace comes after the New York Stock Exchange (NYSE) announced that trading of the common stock of Horizon Lines would be suspended prior to the market opening on October 20, 2011. The stock is being suspended because it did not maintain an average market capitalization of at least $15 million over a consecutive 30-trading-day period, as required by NYSE continued listing standards.
Horizon Lines is appealing the NYSE’s determination. The company has been advised by the NYSE that additional action to pursue delisting of the stock will not be undertaken until the appeal is completed. In the meantime, the company’s stock will trade on the OTCQB Marketplace under the new HRZL stock symbol.
October 20, 2011
Horizon Lines loses NYSE listing
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