Siemens plans to delist its shares from both the London and Swiss stock exchanges following low trading volumes.
As reported by Reuters, the German engineering group said Tuesday that trading in Siemens shares has primarily taken place in Germany and via electronic trading platforms. As a result, in 2013, Siemens shares trading on the LSE and SIX were low, with a trading volume of less than three percent in London and less than one percent of the worldwide trading volume made through the Swiss exchange.
In a statement, Ralf Thomas, Siemens Chief Financial Officer said:
"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. The aim of the delistings reflects the change in investor behavior."
The delisting is expected to take place in the London Stock Exchange from October this year, whereas shares will be removed from the Swiss Exchange in January 2015 at the earliest.
Read on: In the enterprise