Yellow pages publisher R.H. Donnelley shares now trade over the counter
Posted January 2, 2009 4:10 p.m. EST
Updated January 5, 2009 7:37 a.m. EST
Cary, N.C. — The slowing economy hit a Cary-based yellow-page printing company hard, when the New York Stock Exchange delisted it Friday.
Trading of shares of R.H. Donnelley stopped on the stock exchange. The company's shares began trading over the counter on Friday under the symbol RHDC. Shares closed at 17 cents.
The NYSE determined that R.H. Donnelley failed to maintain a market capitalization of at least $25 million over a 30 trading-day period, according to a statement.
Company officials said the delisting does not affect its ability to conduct business as usual.
R.H. Donnelley's stock was held at 25 cents a share. In January 2008, shares were traded at more than $33.
In October, R.H. Donnelley officials said the company was back in the black after three quarters of consecutive losses. The company undertook cost-cutting measures, including layoffs.