NII Holdings Inc, a Latin American mobile service provider, said it has emerged from its chapter 11 reorganization proceedings, Reuters reported on Friday. As part of the plan, about 100 million shares of the company's new common stock and $745 million in cash will be distributed to holders of senior notes. The stock and cash will be issued by the NII Holdings' units, NII Capital Corp and NII International Telecom S.C.A. The mobile service provider has applied to list the new common stock on the NASDAQ Stock Exchange under its former ticker symbol "NIHD.” NII Holdings filed for bankruptcy protection in the U.S. in September after struggling with $5.8 billion in debt and fierce competition in Brazil and Mexico.
