NEW YORK — The New York Stock Exchange suspended trading on Verso Paper’s stock after the stock price fell to 15 cents per share Wednesday, according to StreetInsider.com.
The NYSE is working on delisting the stock. The common stock is available on over-the-counter markets.
Verso Corp. announced in August that it planned to shut down machines in Jay and eliminate about 300 jobs there. Verso also plans to close its Wickliffe, Ky., mill and lay off about 310 workers.
Also in August, the NYSE notified Verso that it fell below the NYSE’s continued listing standard requiring that Verso’s average market capitalization be at least $50 million over a consecutive 30-day trading period. As of Aug. 13, Verso’s average market capitalization over the previous 30 consecutive trading days was approximately $44.2 million.
At the end of 2014, Verso shut down its Bucksport mill and laid off about 570 employees.
As part of its merger with NewPage, Verso sold its Rumford mill to Catalyst Paper Holdings, based in British Columbia.
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