SITE Centers shares advanced 18.3% in premarket trading Oct. 16 as the company outlined a $3-per-share cash distribution and plans to leave the New York Stock Exchange.
Shares ended the Oct. 15 regular session at $3.01. At 8 p.m. ET (0000 UTC Oct. 16), after-hours trading put them at $3.60, 19.6% above that finish. The premarket gain stood at 18.3% at 7:43 a.m. ET Oct. 16 (11:43 UTC).
SITE Centers linked the possible involuntary delisting to the share-price and market-value levels it expects after the distribution. The company expects its NYSE exit to take effect before trading begins Dec. 4.
