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Siemens to delist from London, Zurich
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GERMAN engineering giant Siemens said yesterday it will delist its shares from the London and Zurich stock exchanges given low trading volumes.
“The managing board of Siemens has resolved to delist the ordinary shares of Siemens from the London Stock Exchange and from the Swiss Stock Exchange,” the company said in a statement.
“Recently, trading in Siemens shares has been effected primarily in Germany and via electronic trading platforms. The trading volume of the Siemens shares on the LSE and on the SIX is comparatively low,” the German company explained.
In 2013, the trading volume in London was under 3 percent, and that on SIX was below 1 percent of the global trading volume of Siemens shares.
Siemens already delisted from the New York Stock Exchange in mid-May.
“The aim of the delistings reflects the change in investor behavior,” said Chief Financial Officer Ralf Thomas.
The delisting from the LSE was expected to become effective early next month while the SIX delisting would likely be effective in January 2015 at the earliest, Siemens said.
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