Delta Air Lines(DALRQ Quote) has officially ended its 19-month stay in bankruptcy, saying it has cut enough costs and changed its business in a manner that will allow it to succeed financially and operationally.
Shares of Delta began trading Monday on what's known as a "when issued" basis, meaning the stock has been authorized but not yet issued. The airline is preparing to issue 400 million new shares on Thursday. At midday, the when-issued stock was at $20.37 on the New York Stock Exchange.
The stock has an exchange specialist, meets listing standards and has been certified by the Securities and Exchange Commission, said an NYSE spokesman. However, at the moment, trading is geared toward institutions or large brokerage firms due to complicated settlement provisions, the spokesman said. ...
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