Banro Corp. said Dec. 27 that its shares will be delisted from the Toronto Stock Exchange and the NYSE American.

The TSX delisting will take effect from market close on Jan. 22, 2018, and the company does not plan to appeal the move. These shares have been suspended from Nov. 20 following a cease trade order by the Ontario Securities Commission.

The NYSE's decision noted the uncertainty over Banro's restructuring timing and the outcome of these proceedings. Company shares have been suspended from the NYSE since Dec. 22.