Danaos Corp is back in good standing with the New York Stock Exchange.
The John Coustas-led bulker owner has regained full compliance with minimum average share price listing requirements of $1 for 30 trading days ended 1 June.
The Greek containership owner's board of directors implemented a one-for-14 reverse stock split effective 2 May.
The split, which shareholders approved 5 March at a special meeting, lowered the number of outstanding shares to about 15.2 million from about 213.4 million.
It shares closed today up 1.4% to $12.28.
On 31 December, the exchange told Danaos, which has 59 boxships, it did not comply with listing standards because the average closing share price fell below $1 for 30 straight days.
