By Josh Beckerman
Shares of Citizens Holding Co. declined 23% to $8 after hours as the Philadelphia, Miss., bank holding company announced its voluntary delisting from Nasdaq.
The company expects significant cost savings and said Friday it concluded “that the benefits to the company and its shareholders outweighed the advantages of remaining an SEC-reporting, Nasdaq-listed company.”
Citizens Holding expects its last trading day on Nasdaq will be on or about Dec. 15. Shares will trade on the OTCQX. The company plans to continue publishing quarterly and annual financial information via press releases or postings on the OTC Markets website.
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