German engineering group Siemens will delist its shares from the London and Swiss stock exchanges because of low trading volumes there. It already has walked away from the New York Stock Exchange in mid-May 2014 after the SEC deregistration in August.
Chief Financial Officer Ralf Thomas said in a statement that delisting from the Swiss and London Stock Exchanges is the logical next step. Siemens said 2013 trading volume in London was less than 3 percent and on the SIX Swiss exchange was less than 1 percent of its worldwide trading volume.
It said the London Stock Exchange delisting was expected to take effect in early October, and the SIX delisting in January 2015 at the earliest.
Although it is usually a sign that a company is down the toilet, the Siemens delisting is mostly because its shareholders are Germans who buy their shares via electronic trading platforms. It is hardly worth the effort to be listed in countries where you shares are not bought and sold.