Ericsson applies for delisting from the London Stock Exchange
Ericsson (NASDAQ: ERIC) has decided to apply for delisting of the company’s series B shares from the London Stock Exchange (LSE). Ericsson anticipates that the delisting will take effect on April 14, 2008.
The Ericsson series B shares have been listed on the LSE since 1960. In recent years, trading in the company’s series B shares on the LSE has corresponded to less than 1 percent of the total trade in the company’s series B shares, which in Ericsson’s view does not justify the costs of maintaining the listing.
Following the delisting, all trading in the Ericsson series B shares will be concentrated to OMX Nordic Exchange Stockholm and Nasdaq. The Ericsson shares have previously been delisted from the stock exchanges in Paris and Zürich as well as three German exchanges.
The delisting refers to Telefonaktiebolaget LM Ericsson series B shares of SEK1.00 each in the capital of the Company (ISIN: SE0000108656). The Ericsson series B shares has been listed on the official list maintained by the Financial Services Authority (FSA) and has been admitted to trading on the main market for listed securities of the LSE. Ericsson will now apply to the FSA for the cancellation of the listing of the series B shares on the official list and to the LSE for the cancellation of the admission of the series B shares to trading on the LSE. The cancellations are subject to a 20 business day notice.
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