Boise shares fall after NYSE listing warning

Furthermore, the average closing price of Boise's common stock was less than $1 for 30 consecutive trading days.

Boise now has 45 calendar days to submit a plan for achieving compliance with the standards within 18 months. If the exchange rejects the plan, trading of Boise's shares could be suspended.

Boise also must bring its share price and average share price above $1 in the next six months to remain listed on the exchange.

"Our stock price has been pressured by an unprecedented financial market downturn that is impacting many companies and stocks in our industry and others," Chief Executive Alexander Toeldte said in a statement.

"While we are disappointed by this notification, we are taking proactive steps to address this issue. We are encouraged by our third-quarter 2008 results and the progress we have made and continue to make in improving our operating and financial performance."

Analysts said that even if Boise were delisted, its prospects would not be harmed.

"Boise can actually benefit from a delisting, as it no longer will need to maintain its reporting obligations to the (Securities and Exchange Commission), thereby saving resources and realizing cost savings," said Vivek Tapuriah of Frost & Sullivan.

Boise was formed earlier this year after Aldabra 2 Acquisition Corp. paid about $1.63 billion for the paper and packaging assets of Boise Cascade LLC.

Shares fell 7 cents, or 14 percent, to 43 cents. In the past 52 weeks, the stock has ranged from 37 cents to $8.52.