Municipal Mortgage & Equity, a Baltimore-based multifamily lender and investment manager, has reported that it will not be traded on the New York Stock Exchange after Feb. 6. After that date, the stock will be traded on the over-the-counter market. MuniMae said the NYSE is suspending trading in its shares because the company will not be meeting a March 3 deadline to file its audited financial statements for the 2006 fiscal year. The company is eligible to apply to be relisted on the NYSE after it meets the exchange's requirements. MuniMae stock closed at $7.13 on the NYSE on Jan. 30, a steep decline of over 50% from its Jan. 2 opening of $15.
Processing Content
