What does CDLB mean in AMEX SYMBOLS
CDLB is an abbreviation for Citadel Holding Corporation Class B. It was the class B stock of Citadel Holding Corporation, a US-based financial holding company that existed from 1984 until it was de-listed in 2010. CDLB was designed to provide shareholders with high levels of liquidity and growth potential. This stock traded on the NYSE Amex from its inception on October 9th, 1984 up until it ceased trading on December 21st, 2010.
CDLB meaning in AMEX Symbols in Business
CDLB mostly used in an acronym AMEX Symbols in Category Business that means Citadel Holding Corporation Class B (de-listed)
Shorthand: CDLB,
Full Form: Citadel Holding Corporation Class B (de-listed)
For more information of "Citadel Holding Corporation Class B (de-listed)", see the section below.
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History Of CDLB
Citadel Holding Corporation, the parent company of CDLB, began operations in 1984 and quickly rose to become one of the largest publicly traded companies with a strong presence in the insurance, banking, and investment management sectors. The company listed itself on the New York Stock Exchange (NYSE) American Stock Exchange (AMEX) under the ticker symbol ‘CDL’ shortly after its inception in October 1984.
The company diversified its operations over time by starting subsidiaries such as Ellison Insurance Company and Citizens Bank & Trust Company. Citizens Bank & Trust provided consumer banking services while Ellison Insurance engaged in providing casualty insurance services to businesses and individuals throughout Pennsylvania. By 1993, Citadel Holding had also began to expand into real estate investments through its subsidiary Citadel Equity Group Inc., making it a well-rounded financial services firm with offerings spanning multiple industries.
CDLB Class B Shares
On October 9th 1984, Citadel Holding Corporation issued two classes of common stocks - Class A (ticker symbol 'CDLA') and Class B (ticker symbol ‘CDLB’). Both classes of shares were offered equal rights except for voting power - Class A shares held 10 votes per share while Class B held only one vote per share regardless of how many shares were purchased or owned by investors.
Similar to other class B stocks at that time, these non-voting securities were created as a way for founders or early investors to maintain control over their business without diluting their voting power within shareholder meetings. They allowed investors who purchased CDLB shares to gain exposure to the value and potential growth opportunities associated with Citadel Holding Corporation's assets without explicitly taking any ownership stake in the company itself.
De-Listing Of CDLB
In 2007, due to underperformance and lacklustre returns caused by the financial crisis of 2007/2008, Citadel Holding Corporation announced plans for deregistration from Nasdaq Global Select Market and AMEX due to failing to meet listing requirements imposed by both exchanges respectively. As a result all outstanding CDLA and CDLB securities became null & void after they stopped trading on December 18th 2008 on NASDAQ Seucrity Exchanges and December 21st 2010 on AMEX exchanges respectively.
Essential Questions and Answers on Citadel Holding Corporation Class B (de-listed) in "BUSINESS»AMEX"
What was Citadel Holding Corporation?
Citadel Holding Corporation was a financial and insurance services company specializing in strategic acquisitions and investments. It operated primarily in the United States, with offices throughout Europe, Asia Pacific, and South America.
When did Citadel Holding Corporation Class B de-list?
Citadel Holding Corporation’s Class B shares were de-listed from the Nasdaq Stock Market on April 18th, 2013.
What happened to shareholders as a result of Citadel Holding Corporation's de-listing?
As part of the de-listing process, shareholders received cash for their shares at the price stated by Citadel's board of directors. These payments were made in accordance with applicable rules and regulations, including the rules of NASDAQ.
How did the company change after its de-listing?
After its de-listing, Citadel shifted from being publically traded to becoming a privately held company managed by its founder Ken Griffin. This resulted in fewer regulatory obligations and greater flexibility with how it manages its extensive portfolio across multiple industries.
Was there an impact on existing endowment funds held by Citadel Holding Corporation?
No. The existing endowment funds remained unaffected by the de-listing process and continued to be managed by Citadel following its transition to private ownership.
Are there any publicly traded entities affiliated with Citadel Holdings Corp.?
No, Currently there are no publicly traded entities affiliated with or connected to Citadel Holding Corporation as all shares have been delisted since 2013.
Is there any other way investors can access investment opportunities related to holdings owned by Citadel Holding Corp.?
Investors may be able to access investment opportunities through third parties who partner with or are affiliated with companies managed by Ken Griffin or his private equity firm –Citadel Investment Group LLC.
Did the management team remain same after the delisting?
Since privatizing, some members of the management team have left and new executives have joined; however, CEO Ken Griffin remains in place overseeing daily operations and large scale investments made on behalf of clients within his portfolio companies.
Final Words:
In conclusion, CDLB is an abbreviation for Citadel Holding Corporation's class B common stock which once functioned as a viable security option for investors who wished to take advantage of its high liquidity rate and growth prospects before it went defunct when it was delisted in 2010 due to factors beyond its control during an industry wide crisis at that time period.