The New York Stock Exchange plans to suspend trading in the common stock and other NYSE-listed securities of Reliance Group Holdings Inc. and will move to delist the issues from the exchange.
The NYSE made the announcement Tuesday, saying it is taking the action because of Reliance common stock’s abnormally low selling price, which closed Monday at 1/32, matching a 52-week low. The troubled insurer is also in violation of other listing criteria.
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