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Letter to the Editor
Tuesday July 31
BASF to Delist From NYSE by September
BASF AG, the German chemical company, has announced it would move to delist its American Depositary Receipts from the New York Stock Exchange by September.The company said it intends to maintain its ADR program so that investors can hold onto them, as well as facilitate trading in the U.S. over-the-counter market.
BASF shares will continue to be traded on exchanges in Frankfurt, London and Zurich.
"Our decision to delist from the New York Stock Exchange underlines BASF's continuous efforts to reduce complexity and costs," Chief Executive Juergen Hambrecht said. "BASF's senior management remains committed to maintaining an open dialogue with U.S. investors."
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