X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

EDISON, NJ–Mack-Cali Realty Corp. is withdrawing its secondary listing from the NYSE Arca Equities Inc., formerly the Pacific Exchange. Mack-Cali will continue to be listed in the New York Stock Exchange, its principal listing exchange.

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.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Dig Deeper

 

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt
Live Chat

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.