Since VNT was delisted what happend to people who still owned it?

Question

The symbol changed to VNT.DL and the ADR program was suspended but what happened to those who owned it? I am assuming it has a current value of zero.

The company has been nationalized by Hugo Chavez so I don't think there is anyway to accurately value this stock. I am trying to find out what is the actual value of this stock at this point if possible. The news is very vague. Was it just delisted or is it cancelled? I have very little experience with socialist governments taking companies over and messing with the capitalist workings. Delisting on NYSE is not usually a huge deal because it can go OTC or OTCBB but it appears that there is no market at all anymore. So I'm trying to figure out if anyone actually knows this information.

Answer 1

A share is still a share and the people who used to own the shares still own the shares. Delisting simply means that this security is not on the trading list of the exchange. It might get listed elsewhere, or it might go on being unlisted. If it's not listed on an exchange, it's harder for buyers and sellers to find each other. If the sponsor of the ADRs has quit, then, again, his does not affect your rights; it just makes it hard to get information. Contact your broker.

If the value truly has gone to zero, it wasn't caused by the delisting. It might be the other way around: the company went bankrupt and that caused the delisting.