Volvo says to delist from Nasdaq in late 2007
STOCKHOLM, June 14 (Reuters) - Sweden's Volvo (VOLVb.ST), the world's number two truck maker, said on Thursday it would apply to delist its shares from Nasdaq (NDAQ.O) and deregister its Class B shares from the U.S. Securities and Exchange Commission.
Volvo said in a statement it expected the process to be completed in the latter part of 2007.
"Recently, trading in American Depositary Receipts has corresponded to less than 3 percent of total trading in the Volvo Class B share, which the Board of Directors does not consider to be proportionate with the costs for maintaining the listing," it said.
After the delisting from Nasdaq, all trading in Volvo shares will be concentrated on the Stockholm Stock Exchange.
((Editing by Sue Thomas; Stockholm Newsroom, tel: +46-8-700 1017, e-mail: stockholm.newsroom@reuters.com)) Keywords: VOLVO NASDAQ/
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