Bristol-Myers Squibb announces intention to delist its preferred stock

By Tali David

Minneapolis, May 16 - Bristol-Myers Squibb Co. notified the New York Stock Exchange of its intention to voluntarily delist its $2 convertible preferred stock, according to a press release.

The company said its decision to delist the preferred stock was driven by the low number of shares outstanding, low daily trading volume, listing fees and compliance administration costs.

Currently, 5,064 shares of the preferred stock remain outstanding, which is below the minimum number of shares specified by Section 802.01 of the NYSE Listed Company Manual.

Bristol-Myers is a New York-based health care company.

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