NYSE Regulation, Inc. announced today that it determined that the common stock of CBRE Realty Finance, Inc. – ticker symbol CBF – should be suspended prior to the market opening on Monday, November 10, 2008.
The decision to suspend the REIT’s common stock was reached in view of the fact that the REIT has fallen below the New York Stock Exchange’s continued listing standard regarding average global market capitalization over a consecutive 30 trading day period of not less than $25 million, which is viewed as minimum threshold for continued listing.
The REIT had also previously fallen below the NYSE’s continued listing standard for average share price over a consecutive 30 trading day period of not less than $1.00.
The REIT has a right to a review of this determination by a Committee of the Board of Directors of NYSE Regulation. Application to the U.S. Securities and Exchange Commission to delist the issue is pending the completion of applicable procedures, including any appeal by the REIT of NYSE Regulation staff’s decision. The NYSE noted that it may, at any time, suspend a security if it believes that continued dealings in the security on the NYSE are not advisable. -- www.nyse.com
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