SDRL - Seadrill Partners Units Leave NYSE But The Story Is Not Over
Seadrill Partners (former (SDLP), current (SDLPF)) has recently received notification from NYSE stating that the proceedings to delist the company’s common units have commenced. The reason for this was the company’s low market capitalization. The trading of Seadrill Partners' units on NYSE has been suspended, and the shares started trading on the OTC market. Seadrill Partners stated that it intended to appeal the delisting determination and that delisting procedures would be suspended pending the outcome of the appeal.
Apparently, the market has lost any faith that Seadrill Partners’ negotiations with creditors can end