Loral Space & Communications Inc.‘s common stock began trading Dec. 8 on the Nasdaq market under the symbol LORL, Loral announced.

The company issued 18.7 million shares, or about 94 percent of the 20 million new shares of Loral Space & Communications Inc. common stock to be distributed in accordance with the company’s plan of reorganization. Loral Skynet issued 987,000 shares, or approximately 99 percent of the Loral Skynet preferred stock to be distributed and also has issued $126 million principal amount of Loral Skynet senior secured notes.

The balance of common and preferred stock is being held in reserve pending the resolution of outstanding claims against Loral.

LORL closed at $28.61 Dec. 8, down from the Dec. 7 closing price of $29.10 when the stock traded under the symbol LRALV on the over-the-counter market.