Oilfield services firm Parker Drilling Co. announced its common stock has been approved for listing on the New York Stock Exchange.
Parker expects its common stock will begin trading tomorrow under the trading symbol “PKD,” the same trading symbol used for the company’s common when it was listed previously on the exchange.
Last December, the New York exchange announced it was taking steps to de-list Parker Drilling common shares, with trading of said shares suspended Dec. 11.
On Dec. 14, Parker Drilling filed for protection from creditors under Chapter 11 of the U.S. Bankruptcy Code. It left bankruptcy last week, Kallanish Energy reports.
“The relisting of our new common stock on the NYSE is another important step in our overall restructuring and efforts to deliver future value to our common stockholders,” said Gary Rich, president and CEO.
“We believe the NYSE relisting will result in an expanded institutional and retail shareholder base and increased capital markets exposure.”
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