FRANKFURT (StartName) – German engineering group Siemens will delist its shares from the London and Swiss stock exchanges because of low trading volumes there, it said on Tuesday.
“Following the delisting of Siemens ADS from the New York Stock Exchange in mid-May 2014 and the SEC deregistration in August, the delisting from the Swiss and London Stock Exchanges is the logical next step,” Chief Financial Officer Ralf Thomas said in a statement.
Siemens said 2013 trading volume in London was less than 3 percent and on the SIX Swiss exchange was less than 1 percent of its worldwide trading volume.
It said the London Stock Exchange delisting was expected to take effect in early October, and the SIX delisting in January 2015 at the earliest.
(Reporting by Georgina Prodhan; Editing by Ludwig Burger)