Daimler to End NYSE Listing
Daimler AG will end its listing on the New York Stock Exchange, citing low trading volumes, Bloomberg reported Friday.
Stuttgart, Germany-based Daimler AG is the parent company of Daimler Trucks North America, which makes Freightliner brand trucks.
Daimler wrote to the NYSE Friday about its plan to delist the stock and 8.5% notes due in 2031, issued by Daimler Finance North America, the company said in a statement.
Daimler, whose primary stock listing is in Frankfurt, Germany, said U.S. trading accounted for less than 5% of total volume in the past 12 months, Bloomberg reported.
“Daimler continues to place great importance on having an international shareholder base,” Chief Financial Officer Bodo Uebber said in the statement. “The trading center for our shares, however, clearly is Frankfurt — and that is also the case for our international investors.”
