Daimler to Exit NYSE

German carmaker Daimler hit trades below the belt today after announcing it has decided to delist from the New York Stock Exchange (NYSE), as a result of "changed investor behavior and consistently low trading volumes."

NYSE was informed of the decision, with Daimler also saying it will discontinue the 8.50 percent notes due January 18, 2031 of Daimler Finance North America LLC and the related Daimler guarantee. The United States Securities and Exchange Commission (SEC) is yet to be informed.

“Daimler continues to place great importance on having an international shareholder base. The trading center for our shares, however, clearly is Frankfurt – and that is also the case for our international investors. Furthermore, this step will enhance our overall efficiency. The American sales market and our activities in North
America remain as important as ever for Daimler,”
Bodo Uebber, CFO of Daimler AG said in a statement.

Daimler's primary listing is in Frankfurt, where its shares dropped 29.5 cents, or 0.7 percent as a result of the announcement. NYSE was responsible for 5 percent of the total volume of Daimler shares traded last year, the carmaker says.

“We remain in direct, close and open dialogue with our American investors, and our investor relations team and I will continue to be present on a regular basis in the US,” Uebber added.

No listing on any other US-based securities exchange has been arranged, Daimler adds.
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About the author: Daniel Patrascu
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Daniel loves writing (or so he claims), and he uses this skill to offer readers a "behind the scenes" look at the automotive industry. He also enjoys talking about space exploration and robots, because in his view the only way forward for humanity is away from this planet, in metal bodies.
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