ADVERTISEMENT

European companies exit Wall Street

Analysis

European companies that staged high-profile share listings on US exchanges in the 1990’s are now giving up their expensive foray into Wall Street.

Several European groups have made the decision to quit New York’s expensive streets. Most companies say they want to give up trading in the United States because the costs are high compared to the thin volumes. In Germany, Bayer and energy company E.ON are leaving. The French groups Danone, Publicis and Suez have given up their Wall Street listings. In Switzerland, Adecco has done the same, as has British Airways.

They all took advantage of an easing in US Securities and Exchange Commission rules that made leaving Wall Street behind very difficult. Foreign companies used to be required to show they had fewer than 300 US shareholders to abandon a US listing. Since late March however, a company must only show that trade in its US-listed shares was no more than 5% of its total worldwide. (malaysiasun.com)

ADVERTISEMENT

3,274 new COVID cases registered over past 3 days Figures

3,274 new COVID cases registered over past 3 days

Parliament approves amendment to Competition Act Parliament

Parliament approves amendment to Competition Act

New CEO announced at Codic Hungary Appointments

New CEO announced at Codic Hungary

FAO–Food Bank convoy delivers food to those in need City

FAO–Food Bank convoy delivers food to those in need

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.