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Great Neck real estate firm delists from NYSE

Radisson Nashua Hotel

Radisson Nashua Hotel Photo Credit: Radisson

In a voluntary move by Great Neck-based United Capital Corp., the real estate investment trust's shares on Thursday will cease trading on the New York Stock Exchange and will instead be listed over the counter.

The switch to the OTC pink sheets will take effect with the start of business Thursday, the company said.

Its new symbol is UCAP.

The delisting move was announced last month. At the same time, the United Capital board decided to make an offer to buy back all its 3.6 million shares of common stock.

United Capital, which has a manufacturing division and a hotel ownership division -- including Radisson and Marriott properties -- said it delisted in part because its stock was very thinly traded, with fewer than 300 holders.

Photo shows one of the company's hotels, the Radisson, of Nashua, N.H.

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