Bayer, the German chemicals and pharmaceutical company, has announced plans to de-list from the London Stock Exchange (LSE).
The DAX 30-constitutent, which originally listed in London in 1961, says the action is being taken due to its low trading volume at the LSE and the administrative costs and effort involved in maintaining the listing.
‘After cancellation of the London listing, the majority of share trading in Bayer shares will continue to take place on the Frankfurt Stock Exchange in Germany,’ says the company in a statement filed with the stock exchange.
The de-listing is expected to take place on October 25, it adds.
Bayer has cut back on its global listings in the last couple of years, withdrawing from the NYSE in 2007 and Japan in 2008.
[Article by Tim Human, Inside Investor Relations]
NOW WATCH: Briefing videos
Business Insider Emails & Alerts
Site highlights each day to your inbox.