On the New York Stock Exchange, a rule regarding the voluntary delisting of a publicly-traded company. If the management of a company wishes to delist from the NYSE, it must have the consent of at least two thirds of shareholders, with no more than 10% of shareholders opposing.
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A New York Stock Exchange rule that sets requirements for listed companies that wish to delist their stock from the exchange. Companies cannot delist and move trading elsewhere unless at least two thirds of the shares are cast in favor of the move. In addition, no more than 10% of the shares can be cast in opposition to the move.
Wall Street Words: An A to Z Guide to Investment Terms for Today's Investor by David L. Scott. Copyright © 2003 by Houghton Mifflin Company. Published by Houghton Mifflin Company. All rights reserved. All rights reserved.