Caterpillar to delist shares from two European exchanges
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FILE PHOTO: A Caterpillar (Cat) Excavator is seen working at a construction site near the New York Harbor in Brooklyn, New York, U.S., March 4, 2021. REUTERS/Brendan McDermid/File Photo
(Reuters) - Caterpillar Inc. said on Monday it would delist its shares from two European exchanges, following a review of the listings.
The company's shares will be delisted from Euronext Paris on May 28 and the SIX Swiss Exchange before the end of 2024, after which it will only trade on the New York Stock Exchange, its primary listing.
Significantly low trading volumes, costs and administrative requirements related to the listing of the stock on European exchanges were some of reasons that were considered for the delisting, it said.
Caterpillar on Thursday warned of a sales drop in the current quarter as volumes take a hit from dealers tightening equipment inventories, sparking worries that a months-long boom in machinery demand may be coming to an end.
(Reporting by Juby Babu in Mexico City; Editing by Anil D'Silva)
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