(Updates with background)
March 16 (Reuters) – Canada’s Just Energy said on Tuesday it had applied to voluntarily delist its shares from the Toronto Stock Exchange after the electricity and gas provider filed for bankruptcy last week.
On March 9, the company filed for creditor protection in Canada and said it planned to do the same in the United States due to massive costs from the Texas deep freeze.
It became the second Texas electricity company to take that step in the face of extraordinary electricity charges during the cold snap.
Just Energy said it plans to apply to the TSX Venture Exchange to transition the trading of its common shares from the TSX to the TSX-V.
The New York Stock Exchange last week had said it would commence proceedings to delist the Just Energy Group from the NYSE.
Just Energy in February had raised doubts about its ability to continue as a going concern, saying increased demand for electricity and rolling blackouts in Texas forced it to balance power supply at very high clearing prices.
Source: Read Full Article