ABB Ltd
04 August 2005
ABB to concentrate trading of its shares on Swiss, Stockholm and New York Stock
Exchanges
Delisting from Frankfurt and London exchanges due to lack of trading activity
Zurich, Switzerland, August 4, 2005 - ABB Ltd announced today its intention to
delist its shares from trading on the Frankfurt Stock Exchange (FWB) and the
London Stock Exchange (LSE).
ABB made the decision because the average daily trading volume of its shares on
the FWB and the LSE has become insignificant over the past three years. The
cross-border, electronic virt-x exchange based in London handles around 75
percent of the daily volume of trading in ABB shares, and the remaining volume
is almost entirely traded on the Stockholm Stock Exchange and, through the ADR
(American Depositary Receipt) program, on the New York Stock Exchange.
'In today's electronic trading environment, it is no longer necessary to be
listed on a large number of exchanges to provide investors with the opportunity
to trade in our shares,' said Michel Demare, chief financial officer of ABB Ltd.
'Concentrating our trading volume on a smaller number of exchanges improves
liquidity, and as a consequence the pricing of our shares.'
ABB will shortly file applications to delist from both the LSE and FWB. ABB will
delist from the LSE after the close of trading on 2.September 2005 and it
expects to finalize the delisting from the FWB before the end of 2005. ABB
shares will continue to be listed on the SWX Swiss Exchange (traded on virt-x),
the Stockholm Stock Exchange and the New York Stock Exchange.
ABB (www.abb.com) is a leader in power and automation technologies that enable
utility and industry customers to improve performance while lowering
environmental impact. The ABB Group of companies operates in around 100
countries and employs about 103,000 people.
For more information please contact:
Media Relations
Thomas Schmidt
(Zurich, Switzerland)
Tel: +41 43 317 6568
Fax: +41 43 317 7958
Investor Relations
Switzerland: Tel. +41 43 317 7111
Sweden: Tel. +46 21 325 719
USA: Tel. +1 203 750 7743
This information is provided by RNS
The company news service from the London Stock Exchange
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