Volvo to de-list from Nasdaq

06/14/07 - newratings.com

NEW YORK, June 14 (newratings.com) – Swedish truck maker Volvo AG (VOL1) Thursday announced that it intends to de-list its American Depositary Receipts (ADRs) from the Nasdaq and deregister from the US Securities and Exchange Commission (SEC).

The company said the move would help it cut costs. Volvo, which has been listed on the Nasdaq since 1985, elaborated that the trading of the ADRs on the Nasdaq represents only 3% of the total volumes of the trade in the company’s Class B shares. Following the delisting, Volvo’s shares would only be available on the Stockholm Stock Exchange. The company’s shares have already been de-listed from exchanges in Tokyo, London, Paris, Brussels, Oslo, Helsinki, Germany and Switzerland.