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International Investing / Foreign Investments
|Subject: What caused Enel to move to pink sheets?||Date: 1/12/2008 1:15 PM|
|Author: folgore||Number: 676 of 684|
I've posted this also on "Ask a Foolish Question."
One of my stocks, Enel, formerly EN is now ENSTY.PK. What would cause this to occur? Does this mean that Enel is no longer an ADR?
The most obvious reason for a stock to sink into the Pink Sheets is economic distress, the stock price sinking below a certain level, etc. All recent news on Enel seems positive, however. They not only continue their expansion throughout Europe, but they've recently made acquisitions in the US and Mexico. Worth 40 billion Euro, Enel would seem to be a nice European Blue Chip stock.
Could it be that they failed to meet some regulatory requirement necessary to be an ADR?
Where could I find such information
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