Mexico's Homex: NYSE begins delisting process in light of bankruptcy

By Caroline Salls

Pittsburgh, May 6 - Desarrolladora Homex, SAB de CV said the New York Stock Exchange has begun the process for delisting the company's American Depositary Shares.

According to a news release, trading of the shares was immediately suspended.

The exchange said the company is not eligible for continued listing as a result of the filing of its concurso mercantil proceeding in Mexico.

The NYSE said Homex also failed to file its 2013 financial report.

Homex is a Culiacan, Mexico-based homebuilder focused on affordable entry-level and middle-income housing in Mexico and Brazil.

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