Developer’s Stock to Be Relisted
- Share via
NEWPORT BEACH — Bolsa Chica developer Koll Real Estate Group Inc. said Tuesday that its stock will resume trading later this week on the Nasdaq National Market.
The firm was delisted July 14 after it filed a bankruptcy petition. It was put on the less active over-the-counter markets until its recapitalization was approved. As part of that reorganization, the company this week issued new stock. Bondholders will receive 90% of the shares in exchange for approximately $210 million in debt.
Market makers expect the stock, which was trading at 11 cents in July, to sell at about $11.50.
Inside the business of entertainment
The Wide Shot brings you news, analysis and insights on everything from streaming wars to production — and what it all means for the future.
You may occasionally receive promotional content from the Los Angeles Times.
