31 July 2007 - BASF is to file for voluntary delisting of its American Depositary Shares from the New York Stock Exchange.
The delisting is expected to become effective on 6 September when the company s American Depositary Receipts will no longer be traded. The ADR program will be maintained, however, so that investors will not need to exchange them unless they are restricted to investments in registered securities.
Our decision to delist from the New York Stock Exchange underlines BASF s continuous efforts to reduce complexity and costs, says board chairman Dr J rgen Hambrecht. BASF s senior management remains committed to maintaining an open dialogue with US investors.
BASF ordinary shares will continue to be traded on the stock exchanges in Frankfurt, London and Zurich.
For similar cost reasons, packaging group Amcor delisted from the Nasdaq stock market on 4 June, simultaneously deregistering its ADR and ordinary shares from the US Securities and Exchange Commission.
The delisting is expected to become effective on 6 September when the company s American Depositary Receipts will no longer be traded. The ADR program will be maintained, however, so that investors will not need to exchange them unless they are restricted to investments in registered securities.
Our decision to delist from the New York Stock Exchange underlines BASF s continuous efforts to reduce complexity and costs, says board chairman Dr J rgen Hambrecht. BASF s senior management remains committed to maintaining an open dialogue with US investors.
BASF ordinary shares will continue to be traded on the stock exchanges in Frankfurt, London and Zurich.
For similar cost reasons, packaging group Amcor delisted from the Nasdaq stock market on 4 June, simultaneously deregistering its ADR and ordinary shares from the US Securities and Exchange Commission.
