The New York Stock Exchange and Archipelago Holdings Inc., which controlled ArcaEx, merged this past March, creating a single largest security exchange.In a written statement, Mack-Cali's board of directors says it determined that it was no longer necessary or desirable to maintain common stock listings on two affiliated domestic exchanges. The board voted unanimously to withdraw from NYSE Arca to cut down on duplicate expenses.
Mack-Cali does not believe withdrawing its listing will have any impact on the liquidity of its stock, the statement says.
Mack-Cali's not alone in this move. Fellow REIT Mission West Properties, Cupertina, CA, has also announced its intent to drop its NYSE Arca listing. Like Mack-Cali, Mission West has also said it does not expect delisting will have any impact on its stock.
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