BKF Capital Group's common stock will be delisted from the New York Stock Exchange on Sept. 5, confirmed John Siciliano, BKF's chief executive officer. Company officials said they plan to appeal the decision.
According to a May 25 SEC filing, BKF was considered "below criteria" because its total market capitalization was less than $75 million over a consecutive 30-day trading period. BKF announced then that it had received notice of the possible suspension from the NYSE.
BKF reported in July that it will exit the long-only equity business during the third quarter, which will reduce its assets under management to zero. BKF Capital reported $1.9 billion in assets under management at the end of the second quarter.
BKF Capital Group operates primarily through its subsidiary, BKF Asset Management.