CanWest shares — delisted at the close of trading today on the Toronto Stock Exchange — will start trading Monday on the TSX Venture exchange, the company announced.
As a CBC story noted, “companies lose their listings for failure to abide by the rules of the stock exchange.” Exchange rules exclude companies which have dropped below certain share values, and those involved in bankruptcy proceedings. The Venture exchange has less rigorous requirements. CanWest shares last traded on the TSX at .235.
The company’s CanWest Media Inc. (CMI), which holds Global Television, is under creditor protection, noted a story in the Canwest-owned Financial Post. Most of its newspapers (now including the National Post following a transfer from one CanWest subsidiary to another) are under CanWest Limited Partnership (LP), which is in separate negotiations with creditors. So far all continue to operate.
Previous J-Source posts on CanWest are here.