Mexican to Leave NYSE

Mexican maritime logistics provider TMM has decided to delist its ADS from the New York Stock Exchange, it says. The company’s financial results in recent years have been hurt by movements in the USD/MXP exchange rate, which along with slowing global growth have caused it to question the viability of the listing. TMM’s Q1 results did not reflect an average global market capitalization that met minimum standards. The ADS closed at $1.80 Thursday. Shares will continue to trade on Mexico City’s exchange.