Nordic Business Report-January 25, 2007-Nokia to delist from Stockholm Stock Exchange
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Finnish telecomms solutions provider Nokia (NYSE: NOK) said on Thursday (25 January) that it has decided to apply for delisting of Nokias Swedish Depository Receipts (SDRs) from the Stockholm Stock Exchange, due to their decreased trading volumes.
The estimated final day of trading for Nokia SDRs on the Stockholm Stock Exchange is 1 June 2007.
The SDRs will also be deregistered from the Swedish central securities depository (VPC), and this is estimated to take place by the end of June 2007.
Nokia said that its trading volumes on the Stockholm Stock Exchange have decreased significantly over the past few years and currently represent only a small percentage of the total global trading volume of Nokia shares.
In addition, the introduction of OMX Nordic Exchanges combined Nordic List has facilitated cross-border trading between Finland and Sweden, and it is therefore no longer efficient to maintain listings in both Helsinki and Stockholm.
Nokia, headquartered in Espoo in Finland, is a global mobile phone and network equipment manufacturer. It has some 65,324 employees worldwide, and reported net sales of EUR41.1bn in 2006. Nokia is listed on the Helsinki, Stockholm, Frankfurt and New York stock exchanges.
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