Spark deregisters its stock in the US

Spark CEO Simon Moutter
Spark 12-month price history (NZX.com)

Free audio stream, including stories that are padlocked on our site. Listen on any device, anywhere. Updated twice daily. The audio stream takes several seconds to start on Android devices.

Launch Radio player

Spark New Zealand [NZX: SPK], previously known as Telecom Corp and once the largest company on the nation's stock exchange before its network arm was split off into Chorus, is deregistering trading of its stock in the US.

The telecommunications company will continue to provide its sponsored American Depository Receipt programme in conjunction with Bank of New York Mellon and the ADRs will trade on the US over-the-counter market, Auckland-based Spark said in a statement.

Shares of Spark slipped 0.7 percent to $3 and have gained 31 percent so far this year.

The de-registration of the NYSE-listed ADRs was first flagged at the time of Chorus' spin off in November 2011.

(BusinessDesk)


This article is tagged with the following keywords. Find out more about MyNBR Tags

NZ Market Snapshot

Forex

Sym Price Change
USD 0.7506 0.0022 0.29%
AUD 0.9403 0.0001 0.01%
EUR 0.6620 0.0018 0.27%
GBP 0.4926 0.0015 0.31%
HKD 5.8186 0.0176 0.30%
JPY 89.6700 0.3140 0.35%

Commods

Commodity Price Change Time
Gold Index 1192.0 -1.200 2015-05-06T00:
Oil Brent 69.0 0.160 2015-05-06T00:
Oil Nymex 62.0 1.620 2015-05-06T00:
Silver Index 16.5 -0.080 2015-05-06T00:

Indices

Symbol Open High Last %
NZX 50 5765.3 5765.3 5765.3 -0.77%
NASDAQ 4956.7 4965.1 4939.3 -0.40%
DAX 11377.6 11457.9 11327.7 0.20%
DJI 17934.8 18019.8 17928.2 -0.48%
FTSE 6927.6 6974.8 6927.6 0.09%
HKSE 27567.6 27604.5 27640.9 -0.58%
NI225 19356.5 19461.1 19531.6 -1.17%