POSTED: 12:25 p.m. HST, Jul 17, 2012
Financially troubled Hoku Corp. announced today that it has completed its voluntary delisting NASDAQ Global Market.
Hoku shares began trading Monday in the over-the-counter market. Hokku officials also said they have initiated the formal process to deregister with the Securities and Exchange Commission, which will eliminate the company's public reporting requirements.
Honolulu-based Hoku Corp. has suffered from financial difficulties at its Hoku Materials subsidiary that recently halted construction on a $700 million polysilicon plant in Idaho. The company has suffered from falling prices for polysilicon, one of the main components used in photovoltaic panels.
Hoku shares closed at 4 cents today, up 1 cent from Monday.