Anybody know the ramifications of NADL being listed on the NYSE? I believe Seadriill owns a significant percentage of NADL. If that is the case and NADL goes public will Seadrill stock holders get shares of NADL?
NADL/NATDF did a reverse 1:5 split just about a year ago with the intention of getting the share price over the minimum needed for NYSE listing. In the proceeding months they announced they were working on a deal with an unnamed partner and they would delay the listing filing until that sorted itself out. Now that the deal has fallen through they are now proceeding with the listing on the NYSE. As grey3840 stated, they have been trading on the OTC as a public company ever since being spun off by SDRL. SDRL shareholders will not get any shares of NATDF as they are already a stand alone, separately trading company. Hopefully, a NYSE listing will bring more visibility to NATDF, a higher volume of trading and higher prices. With their 10+% divvy shares should see much increased action with the listing.