POSTED: 6:46 a.m. HST, Oct 29, 2012
LAST UPDATED: 9:19 a.m. HST, Oct 29, 2012
Hawaiian Telcom Holdco Inc. has announced that restrictions on trading in its common stock expired yesterday.
The restrictions had gone into effect April 27, serving to avoid potentially adverse tax consequences to the company.
“The temporary trading restrictions were essential in protecting certain tax benefits and preserved significant value for Hawaiian Telcom and our shareholders, but now investors are free to more fully evaluate the prospects of ownership in the company,” said Eric Yeaman, president and CEO, in a statement.
The expiration date of Oct. 28, 2012, marked the second anniversary of the company’s emergence from Chapter 11 bankruptcy protection.
Hawaiian Telcom's shares closed at $16.67 on Friday. The shares did not trade today because stock markets in New York were closed as a result of Hurricane Sandy.