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Satyam: No decision on lifting trading halt at NYSE
January 08, 2009 14:37 IST
The New York Stock Exchange said on Thursday it has not decided as yet on lifting a trading bar on Satyam [Get Quote] Computer, whose chairman Ramalinga Raju admitted on Wednesday to cooking the books of the company.
The trading remains halted as of now in securities of Satyam in New York and Amsterdam exchanges, an NYSE Euronext spokesperson said in an e-mailed statement.
Asked by when the trading would resume, he said: "I cannot speculate about when that halts will be lifted."
On whether NYSE was issuing a notice about possible delisting of the company as shares fell below $1 level in pre-market trade on Wednesday, the spokesperson said he cannot talk about 'other possible actions' as of now.
On January 7, the New York Stock Exchange halted trading in Satyam Computer Services Ltd after Satyam stock plunged by over 90 per cent to $0.85 in pre-market trade in the US.
"NYSE Regulation is currently evaluating the news relating to Satyam and will closely monitor further developments. The security will remain halted until further notice," NYSE said on Wednesday.
On the Indian bourses, shares of Satyam plunged by close to 78 per cent on Wednesday, wiping off about Rs 10,000 crore (Rs 100 billion) or more than $2 billion from its market valuation.
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