SInGAPORE_AIR
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Joined: Mon Nov 13, 2000 4:06 am

BA Evicted From FTSE100 | JAL Could Exit Nasdaq

Fri Sep 13, 2002 6:40 am

Japan Airlines - A WOW Cargo Alliance Member - could delist from the NASDAQ stock exchange as a result from its merger with Japan Air System.

JAL said that its eligibility to list American Depository Receipts on the NASDAQ. It said it would probably lose a special rule which allows it to report results in a Japanese way - not fully compliant in some ways with US Standards (My note: Not to say the Japanese way is inferior - it's just different).

"It is our understanding that the Securities and Exchange Commission will probably not grant 'grandfather' status after the merger and the ADR will lose its standing on Nasdaq," said Kojiro Yamashita, an accountant at Japan Airlines.

"The SEC does not like grandfathered companies as it is a very specific grant to a very specific company," one lawyer said. "JAL's options are either to delist from Nasdaq or become a reporting issuer."

If Japan Airlines continues to list on the NASDAQ, it would have to report it's financial results to a US Standard.

More information at the Financial Times website

Information was gathered from the above hyperlinked webpage. Full information can be viewed by clicking the above hyperlink
Anyone can fly, only the best Soar.
 
SInGAPORE_AIR
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Joined: Mon Nov 13, 2000 4:06 am

RE: BA Evicted From FTSE100 | JAL Could Exit Nasdaq

Fri Sep 13, 2002 6:44 am

British Airways plc. has lost its place in the Financial Times Stock Exchange (FTSE) 100 - the share index for the UK's top 100 companies by market capitalisation for the first time since privatisation in 1987.

The airline exited along with EMI and International Power. On the day of the quarterly review, BA's share price fell 0.5p - costing it it's place against ARM Holdings who's share price gave it a market capitalisation of £0.007 billion greater than BA.

Ryanair tried to ruin BA's day even further by asking to join the FTSE100. However, it was rebuffed as London is not the main listing for Ryanair and Ryanair went to the wrong place to ask to join the FTSE100 and the FTSE100 is based on market capitalisation anyway.

CEO Rod Eddington said, "No company that's in the FTSE wants to come out of it." BA posted a US$310 000 000 loss for the FY01.



More information at the BBC NEWS Online website

Information was gathered from the above hyperlinked webpage. Full information can be viewed by clicking the above hyperlink
Anyone can fly, only the best Soar.
 
BA DC-10
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Joined: Sun Jul 15, 2001 8:40 pm

RE: BA Evicted From FTSE100 | JAL Could Exit Nasdaq

Fri Sep 13, 2002 7:09 am

"Evicted" is a little strong!! BA has simply dropped out of the biggest 100 companies in the UK, which is damaging but not a huge deal, in time it may rejoin it, its like a football league table, teams get promoted and relegated all the time. BA should be applauded for holding such a position in the FTSE for so long, considering that Britain has so many large companies.

Ryanair will never be in the FTSE100, its MC is tiny in comparison to BA, at a guess I would believe VS and BM have higher market caps also.

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