Saint-Gobain to delist from London in February, citing low volumes

(Alliance News) - Compagnie de Saint-Gobain SA on Tuesday said it has decided to delist from the London Stock Exchange, following a review of its listings.

The Paris-based construction materials company cited low trading volumes for the secondary listing on London's Main Market.

According to UK listing rules, Saint-Gobain SA is required to give at least 20 business days' notice of its intended delisting, which it expects to become effective from the start of trading on February 10.

As Saint-Gobain is assigned to the equity shares (international commercial companies secondary listing) category of the Official List of the Financial Conduct Authority, no shareholder approval is required.

Following the delisting, Saint-Gobain will maintain its primary listing on Euronext Paris.

It expects the move to have no impact on shareholders who hold their shares on that exchange.

Saint-Gobain shares closed down 2.3% at EUR83.30 on Tuesday in Paris.

By Aidan Lane, Alliance News reporter

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