Barloworld sees "no benefit" of maintaining its listing in London

(Alliance News) - Sandton, South Africa-based industrial firm Barloworld Ltd on Thursday said it has applied for its shares to be cancelled from trading on London's Main Market.

The move follows a determination by the directors that, pursuant to various business transactions including an unbundling in 2008 and the subsequent disposal of assets and businesses in Europe, there was no visible benefit in maintaining the secondary listing on the London Stock Exchange.

Currently, shareholders holding 0.1% of the company appear on its UK branch register of members.

The company currently has its primary listing on the Johannesburg Stock Exchange and maintains another secondary listing on the Namibian Stock Exchange. Following the cancellation, Barloworld shares will continue to trade on both of these exchanges, it noted.

Barloworld shares were trading 0.4% lower in Johannesburg on Thursday at ZAR105.72 each.

By Evelina Grecenko; evelinagrecenko@alliancenews.com

Copyright 2021 Alliance News Limited. All Rights Reserved.