NEW YORK, Dec 30 (Reuters) - KKR Financial Holdings LLC , a debt fund managed by private equity firm Kohlberg Kravis Roberts & Co, said on Tuesday it had received a listing standards notice from the New York Stock Exchange.
KKR Financial said it was notified that it had fallen below the NYSE's continued listing standard, which requires a minimum average closing price of $1 per share over 30 consecutive trading days.
It said it will seek to cure the deficiency and has six months to bring its average share price back above $1.
The stock will continue to be listed on the NYSE during the cure period, subject to its compliance with other listing requirements, it said.
Earlier this month, the company appointed a new chief executive who said it was reviewing its capital structure, business model and operating expenses.
(Reporting by Paritosh Bansal; Editing by Bernard Orr)
(For more M&A news and our DealZone blog, go to http://www.reuters.com/deals) Keywords: KKRFINANCIAL/ (paritosh.bansal@thomsonreuters.com +1 646 223 6113; Reuters Messaging: paritosh.bansal.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2008. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
KKR Financial said it was notified that it had fallen below the NYSE's continued listing standard, which requires a minimum average closing price of $1 per share over 30 consecutive trading days.
It said it will seek to cure the deficiency and has six months to bring its average share price back above $1.
The stock will continue to be listed on the NYSE during the cure period, subject to its compliance with other listing requirements, it said.
Earlier this month, the company appointed a new chief executive who said it was reviewing its capital structure, business model and operating expenses.
(Reporting by Paritosh Bansal; Editing by Bernard Orr)
(For more M&A news and our DealZone blog, go to http://www.reuters.com/deals) Keywords: KKRFINANCIAL/ (paritosh.bansal@thomsonreuters.com +1 646 223 6113; Reuters Messaging: paritosh.bansal.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2008. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.