Federal Register: March 24, 1999 (Volume 64, Number 56)NoticesPage 14293From the Federal Register Online via GPO Access [wais.access.gpo.gov]

DOCID:fr24mr99-111

SECURITIES AND EXCHANGE COMMISSION

Issuer Delisting; Notice of Application to Withdraw From Listing and Registration; (International FiberCom, Inc., Common Stock, No Par Value) File No. 1-13278

March 18, 1999.

International FiberCom, Inc. (``Company'') has filedan application with the Securities and Exchange Commission (``Commission''), pursuant to Section 12(d) of the Securities Exchange Act of 1934 (``Act'') and Rule 12d2-2(d) promulgated thereunder, to withdraw the above specified security (``Security'') from listing and registration on the Philadelphia Stock Exchange, Inc. (``PHLX'' or ``Exchange'').

The reasons cited in the application for withdrawing the security from listing and registration include the following:

The security has been listed for trading on the Nasdaq National Market as well as the PHLX. The Company has considered the direct and indirect costs and expenses in connection with maintaining the listing of its security on the PHLX. Due to the low level of trading volume in its security on the PHLX, and in light of the recent changes to the Securities Act of 1933, as amended, under the National Securities Markets Improvement Act of 1996, the Company does not see any particular advantage in continuing to list its security on the PHLX. The Company also believes that the trading of its security on multiple exchanges may possibly fragment the market for its security.

The Company has filedwith the Exchange a certified copy of the resolutions adopted by the Company's Board of Directors authorizing the withdrawal of its security from listing on the Exchange and has provided to the Exchange detailed reasons for the proposed withdrawal, and the facts in support thereof.

The Exchange has informed the Company that it has no objection to the withdrawal of the Company's security from listing on the PHLX.

The application refers only to the security set forth above and shall have no effect upon the continued listing of such security on the Nasdaq National Market. In addition, by reason of Section 12(g) of the Act and the rules and regulations of the Commission thereunder, the Company shall be obligated to continue to file reports with the Commission under Section 13 of the Act.

Any interested person may, on or before, April 8, 1999, submit by letter to the Secretary of the Securities and Exchange Commission, 450 Fifth Street, N.W., Washington, D.C. 20549-0609, facts bearing upon whether the application has been made in accordance with the rules of the Exchange 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.

For the Commission, by the Division of Market Regulation, pursuant to delegated authority. Margaret H. McFarland, Deputy Secretary.

FR Doc. 99-7154Filed3-23-99; 8:45 amBILLING CODE 8010-01-M