United Utilities to delist from NYSE to reduce costs By Sarah Turner Last Update: 2:29 AM ET May 30, 2007
LONDON (MarketWatch) -- British utility United Utilities said Wednesday that it will delist its shares from the New York Stock Exchange, in a move to reduce costs. The company said that the ongoing reporting and compliance obligations under both the Exchange Act and the 2002 Sarbanes-Oxley Act incur significant costs. End of Story
WOW - Does anybody know more? Like the Date and how to trade after delisting?
South Africa: London Calls As SA Firms Turn Back On U.S. Market Business Day (Johannesburg), 28 May 2007 Posted to the web 28 May 2007 Ren�e Bonorchis, Johannesburg
FOUR of SA's largest companies listed on U.S. stock exchanges have said in the past week that London exchanges offer better value for money and they are investigating the possibilities of moving their listings there.
Most of the companies that expressed dissatisfaction with the US trading environment cited the tough market regulations as one of the reasons they would contemplate such a move.
The latest and Africa's third-largest gold producer, Harmony, said it would consider delisting from the New York Stock Exchange (NYSE) in the next few years if U.S. market regulations were not eased.
"Unless current reforms are significantly restoring a sustainable and affordable set of rules, we would probably follow many others out of a US listing in the next few years," said Bernard Swanepoel, CE of Harmony, on Friday. This follows the announcement by Naspers two weeks ago that onerous compliance requirements in the US had caused the media company to withdraw its listing from Nasdaq and head for London's alternative market, AIM.