PDATE 1-Ambac says plans to fix NYSE listing deficiencyBy: AFX | 10 Dec 2009 | 03:21 PM ET
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NEW YORK, Dec 10 (Reuters) - Bond insurer Ambac Financial Group Inc said onThursday it was looking at what steps it could take to fix its share price afterbeing put on notice of a possible delisting by the New York Stock Exchange. The shares fell 4.9 percent, or 4 cents, to 78 cents in trading after thestatement. Ambac, which has written little new business since it lost top creditratings last year, said it had six months to fix the listing deficiency, whichrelates to its stock price trading below $1 over a period of time. Companies listed on the NYSE are required to trade above $1 per shareover a consecutive 30 trading-day period. As of Dec. 8, the date of the NYSEnotice, the 30 trading-day average closing price of Ambac's stock was 94 cents ashare, said the company. Ambac said it was evaluating potential options to cure the deficiency andthat its shares would continue to trade on the exchange. (Reporting by Lilla Zuill; editing by Andre Grenon) Keywords: AMBAC/NYSE (lilla.zuill@thomsonreuters.com +1 646 223 6281)COPYRIGHTCopyright Thomson Reuters 2009. All rights reserved.
price shoot up 7.9% after the statement.   
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