trending Market Intelligence /marketintelligence/en/news-insights/trending/eHpc58gsBC-Xxgg-HA8Yqg2 content esgSubNav
In This List

McDermott receives delisting warning from NYSE


Despite turmoil, project finance remains keen on offshore wind

Case Study

An Energy Company Assesses Datacenter Demand for Renewable Energy


Japan M&A By the Numbers: Q4 2023


See the Big Picture: Energy Transition in 2024

McDermott receives delisting warning from NYSE

McDermott International Inc. said Dec. 13 that it received a delisting warning from the NYSE after the company failed to comply with the exchange's minimum closing share price requirement.

Listed companies are required to maintain an average closing share price of at least $1.00 over 30 consecutive trading days. The Houston-based engineering and construction provider's stock has been trading under $1.00 since Nov. 8.

McDermott said in a securities filing that it plans to notify the NYSE of its intent to regain compliance.

Under NYSE rules, the company has six months after receiving the notification to regain compliance. During the period, McDermott's shares will continue to trade on the exchange, subject to compliance with other listing requirements, with a ".BC" indicator assigned to its stock symbol MDR.