Fannie Mae said Tuesday that it has been notified by the New York Stock Exchange that its shares are likely to be delisted for failing to meet price criteria.
In a regulatory filing, the government-sponsored enterprise said the exchange cited an average closing price of less than $1 for the shares over a period of 30 trading days that ended Nov. 12.
The exchange said it would suspend and delist Fannie's shares, unless it notifies the exchange by Nov. 26 of its "intent to cure this deficiency." If the GSE provides this notice, it would have six months to bring its average common share price for 30 consecutive trading days above a dollar, subject to monitoring by the exchange.
Fannie said it has not determined its response to the exchange's notice.