Par Petroleum Corp (OTCMKTS:DPTRQ) published a press release today announcing that the company would be changing its stock listing from the NASDAQ OTC to the New York Stock Exchange MKT (formerly the American Stock Exchange). The firm’s shares are expected to start trading on the NYSE MKT on Tuesday, July 22, 2014.
The company said its ticker symbol will stay as “PARR”, but it will withdraw its shares from quotation on the OTCQB Marketplace when its shares are officially listed on the NYSE MKT.
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Will Monteleone, CEO of Par Petroleum Corp (OTCMKTS:DPTRQ), said, “Listing on the NYSE MKT is a milestone for Par Petroleum. I believe that this will heighten our profile in the capital markets and will ultimately allow for a broader shareholder base and increased daily trading liquidity.”
“We welcome Par Petroleum to the NYSE MKT family of listed companies and look forward to having a long term partnership with them,” enthused Scott Cutler, Executive VP, Global Listings at NYSE. “Par Petroleum will be joining other growth-oriented companies taking advantage of the NYSE Euronext (NYSE:NYX)’s advanced and innovative market model to offer a premier value for listing and trading their stocks.”
More on Par Petroleum
Par Petroleum Corp (OTCMKTS:DPTRQ) is headquartered in Houston, and manages interests in various energy-related assets.
Par, through its subsidiaries, owns and operates a 94,000 barrels per day refinery in Oahu, Hawaii. This refinery and a 27-mile pipeline system, terminals and retail outlets, is one of the major providers of energy resources in the state of Hawaii.
Piceance Energy, LLC, which owns and operates natural gas deposits located in the Piceance Basin of Colorado, is Par’s largest single investment.
The growth-oriented firm markets, transports and distributes petroleum-based products through its subsidiary Texadian Energy. With interests in critical pipeline systems, a rail car fleet and barges, Par has established a competitive advantage in transporting crude oil from land-locked locations in the Western U.S. and Canada to refineries on the Gulf Coast and the East Coast.