CDC: Nasdaq converts class A common stock trading halt to suspension

By Caroline Salls

Pittsburgh, Oct. 28 - CDC Corp. said the Nasdaq Stock Market LLC planned to convert the current trading halt for its class A common shares to a suspension on Oct. 28, according to a 6-K filed with the Securities and Exchange Commission.

As a result, the company said its common shares will become eligible for trading in the over-the-counter market, and quotes will be eligible to be displayed on the OTC Pink Market under the new trading symbol CDCAQ.

CDC said it has requested a hearing before a Nasdaq Listing Qualifications Panel to request termination of the trading suspension and the reinstatement of trading.

As previously reported, the Nasdaq Listing Qualifications staff said earlier this month that CDC's securities should be delisted as a result of its Chapter 11 bankruptcy filing.

The staff's decision was also based on the fact that the company did not file its annual report for the fiscal year ended Dec. 31, 2010 by the June 30 deadline.

CDC, a Hong Kong- and Atlanta-based enterprise software and new media company, filed for bankruptcy on Oct. 4 in the U.S. Bankruptcy Court for the Northern District of Georgia. The Chapter 11 case number is 11-79079.

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