[Federal Register Volume 64, Number 56 (Wednesday, March 24, 1999)]
[Notices]
[Page 14293]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 99-7154]
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SECURITIES AND EXCHANGE COMMISSION
Issuer Delisting; Notice of Application to Withdraw From Listing
and Registration; (International FiberCom, Inc., Common Stock, No Par
Value) File No. 1-13278
March 18, 1999.
International FiberCom, Inc. (``Company'') has filed an application
with the Securities and Exchange Commission (``Commission''), pursuant
to Section 12(d) of the Securities Exchange Act of 1934 (``Act'') and
Rule 12d2-2(d) promulgated thereunder, to withdraw the above specified
security (``Security'') from listing and registration on the
Philadelphia Stock Exchange, Inc. (``PHLX'' or ``Exchange'').
The reasons cited in the application for withdrawing the security
from listing and registration include the following:
The security has been listed for trading on the Nasdaq National
Market as well as the PHLX. The Company has considered the direct and
indirect costs and expenses in connection with maintaining the listing
of its security on the PHLX. Due to the low level of trading volume in
its security on the PHLX, and in light of the recent changes to the
Securities Act of 1933, as amended, under the National Securities
Markets Improvement Act of 1996, the Company does not see any
particular advantage in continuing to list its security on the PHLX.
The Company also believes that the trading of its security on multiple
exchanges may possibly fragment the market for its security.
The Company has filed with the Exchange a certified copy of the
resolutions adopted by the Company's Board of Directors authorizing the
withdrawal of its security from listing on the Exchange and has
provided to the Exchange detailed reasons for the proposed withdrawal,
and the facts in support thereof.
The Exchange has informed the Company that it has no objection to
the withdrawal of the Company's security from listing on the PHLX.
The application refers only to the security set forth above and
shall have no effect upon the continued listing of such security on the
Nasdaq National Market. In addition, by reason of Section 12(g) of the
Act and the rules and regulations of the Commission thereunder, the
Company shall be obligated to continue to file reports with the
Commission under Section 13 of the Act.
Any interested person may, on or before, April 8, 1999, submit by
letter to the Secretary of the Securities and Exchange Commission, 450
Fifth Street, N.W., Washington, D.C. 20549-0609, facts bearing upon
whether the application has been made in accordance with the rules of
the Exchange and what terms, if any, should be imposed by the
Commission for the protection of investors. The Commission, based on
the information submitted to it, will issue an order granting the
application after the date mentioned above, unless the Commission
determines to order a hearing on the matter.
For the Commission, by the Division of Market Regulation,
pursuant to delegated authority.
Margaret H. McFarland,
Deputy Secretary.
[FR Doc. 99-7154 Filed 3-23-99; 8:45 am]
BILLING CODE 8010-01-M
