Warren Buffett“A public opinion poll is no substitute for thought.”
Adlin Sinclair“Success is a welcomed gift for the uninhibited mind.”
General Growth shares rise in Big Board return (Reuters)
.N) rose on Friday, their first day back on the
, even as the U.S. mall owner operates under bankruptcy protection.
were up 2.3 percent to $14 in late morning trade. The shares had hit a high of $14.40 earlier in the session.
U.S. REIT Index (.RMZ), which was up 1.3percent.
Although rare, General Growth is not alone as having its shares trade on the Big Board while operating under
.
A representative of the exchange did not know how many of the approximately 2,425 companies trading on the New York Stock Exchange were in chapter 11.
But there are a handful of companies, such as
W.R. Grace
. However, unlike those companies, General Growth had been delisted after its April filing and has now returned.
To be listed on the Big Board, a company has to reach certain parameters, such as valuation.
By market cap value, General Growth is over $4 billion, making it the 15th-largest publicly traded REIT. Before General Growth's re-entry, 128 REITs traded on the NYSE, according to the
.
and his family or family's trust.
.N), Fidelity Management & Research and
, according to
.