Netia seeks Nasdaq re-listing following restructuring

Top alternative fixed-line operator Netia, which recently underwent a life-saving debt-for-equity swap, plans to resume its listing on the US Nasdaq index, the firm announced yesterday. Netia said the Nasdaq's Review Council was reconsidering the previous decision by its Qualificants Panel to delist the stock's ADS (American Depository Shares). Netia hopes to be traded on its SmallCap Market. "Netia's restructuring has entered its final phase with the issue of new bonds and shares. We are waiting for the court to register the new shares so that they will be cleared for public trade on the Warsaw bourse," said Avi Hochman, Netia's chief financial officer. "The new listing of ADS on the Nasdaq will improve Netia's liquidity", he added. Netia had to delist from the high-tech index last year because of its falling valuation. (Reuters, Puls Biznesu, p. 3) J.K.