AmTrust Financial baby bonds will begin to trade on the OTC exchange in the next couple of days (of course just after we removed them from our baby bond listing).
Of course all of the perpetual preferreds are now trading on the OTC as well.
We would caution folks on buying/holding these shares. While those with experience in these types of items (delisted stocks) may understand the risk there is a huge difference being listed on the OTC market as compared to being on the NYSE. There are few-if any regulations on what companies must “file” in terms of financials to be listed on the OTC–it is the ‘wild west’ so to speak.
Long time readers will remember Glacier Water Services and their trust preferred shares–these shares were delisted from the NYSE because of the lack of public shareholders. Shares did just fine (actually great) and eventually the shares were redeemed at $25. BUT AMTRUST IS RUN BY SNAKES and you simply can’t trust them to file any financials whatsoever-in fact they have no plans to provide public financials.