Panda Ethanol to de-register stock in light of operation subsidiary bankruptcy

In Texas, Panda Ethanol announced that it will file with the SEC to deregister its common stock and suspend reporting. The company’s management said that after the bankruptcy of its underlying Hereford subsidiaries, the costs of remaining a public company outweighed the benefits. The stock is held by less than 300 people, making it eligible to privatize in this manner. The Hereford subsidiaries files for bankruptcy in January and the company expects its equity to be wiped out in a looming asset sale or other reorganization.

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