H.J. Heinz: NYSE to suspend trading of preferreds, apply for delisting

By Tali David

Minneapolis, Feb. 15 - H.J. Heinz Co. received notice from the New York Stock Exchange that its third cumulative preferred stock, $1.70 first series, is suspended from trading and that the NYSE staff has applied to the Securities and Exchange Commission to begin delisting procedures for these preferreds, according to a company news release.

The suspension began before the opening of the market on Friday.

NYSE Regulation, Inc. determined that the preferred stock is no longer suitable for listing because it does not meet the minimum continued listing distribution requirement of 100,000 publicly held shares outstanding as set forth in section 802.01 of the NYSE Listed Company Manual, the release said.

The food product company is based in Pittsburgh.

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