[Federal Register Volume 68, Number 59 (Thursday, March 27, 2003)]
[Notices]
[Pages 15009-15010]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 03-7342]


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SECURITIES AND EXCHANGE COMMISSION


Issuer Delisting; Notice of Application of Banco Nacional De 
Comercio Exterior, S.N.C. to Withdraw its 7\1/4\% Global Notes (due 
2004) From Listing and Registration on the New York Stock Exchange, 
Inc. File No. 1-11744

March 21, 2003.
    Banco Nacional De Comercio Exterior, S.N.C, a United Mexican States 
corporation (``Issuer''), has filed an application with the Securities 
and Exchange Commission (``Commission''), pursuant to section 12(d) of 
the Securities Exchange Act of 1934 (``Act'') \1\ and Rule 12d2-2(d) 
thereunder,\2\ to withdraw its 7\1/4\% Global Notes (due 2004) 
(``Security''), from listing and registration on the New York Stock 
Exchange, Inc. (``NYSE'' or ``Exchange'').
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    \1\ 15 U.S.C. 78l(d).
    \2\ 17 CFR 240.12d2-2(d).
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    On January 29, 2003, the Board of Directors of the Issuer approved 
a resolution to withdraw the Issuer's Security from listing on the 
NYSE. In making its decision to withdraw the Security from the 
Exchange, the Issuer states that: (i) The Security is not widely held 
and has a low trading volume; (ii) the Issuer is subject to 
administrative costs resulting solely from the listing of the Security, 
including those related to maintaining the listing of the Security on 
the NYSE and complying with U.S. securities laws reporting 
requirements. Given the low trading volume of the Security, the Issuer 
believes that such costs are not justified. The Security is the only 
outstanding security the Issuer has listed on a national securities 
exchange.
    The Issuer stated in its application that it has met the 
requirements of the NYSE rules governing an issuer's voluntary 
withdrawal of a security from listing and registration. The Issuer's 
application relates solely to the Security's withdrawal from listing on 
the NYSE and from registration under section 12(b) of the Act \3\ and 
shall not affect its obligation to be registered under section 12(g) of 
the Act.\4\
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    \3\ 15 U.S.C. 78l(b).
    \4\ 15 U.S.C. 78l(g).
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    Any interested person may, on or before April 16, 2003, submit by 
letter to the Secretary of the Securities and Exchange Commission, 450 
Fifth Street, NW., Washington, DC 20549-0609, facts bearing upon 
whether the application has been made in accordance with the rules of 
the NYSE and what terms, if any, should be imposed by the Commission 
for the protection of investors. The Commission, based on the 
information submitted to it, will issue an order granting the 
application after the date mentioned above, unless the Commission 
determines to order a hearing on the matter.


[[Page 15010]]


    For the Commission, by the Division of Market Regulation, 
pursuant to delegated authority. \5\
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    \5\ 17 CFR 200.30-3(a)(1).
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Jonathan G. Katz,
Secretary.
[FR Doc. 03-7342 Filed 3-26-03; 8:45 am]
BILLING CODE 8010-01-P