The New York Stock Exchange (NYSE) notified Foresight Energy LP on November 8, it was suspending trading of the partnership’s common units and commenced delisting proceedings. This was a result of the NYSE’s determination that Foresight’s common units were no longer suitable for listing based on “abnormally low” trading price levels.
The NYSE stated it will apply to the Securities and Exchange Commission (SEC) to delist Foresight’s common units upon completion of all applicable procedures. Foresight said it does not intend to appeal the delisting determination.
Foresight has submitted an application for its common units to trade on the OTCQX marketplace under the symbol “FELP.” The transition to the over-the-counter markets will not affect the partnership’s business operations. It will remain subject to the public reporting requirements of the SEC following the delisting.