Political Risk Latin America Blog @PolRiskLatam

After 22 years Repsol-YPF delists from the NY Stock Exchange

Posted in News and Articles, Political Risk by politicalrisklatam on February 24, 2011

by Merco Press News, February 24th, 2011.

In its filing this week with the SEC, the firm formally requested that its American Depositary Shares – the vehicle used to list its equity on the stock exchange – be de-listed.

Repsol debuted on the exchange the world’s largest by market capitalization, on May 11, 1989, the same day its shares were listed on the four Spanish stock exchanges following a privatization process.

But Repsol said in a Feb. 9 filing with the Spanish securities regulator that its board of directors had decided to de-list the company’s shares from the New York Stock Exchange as a way to reduce “costs and administrative efforts” and to optimize its presence in international markets.

Among other factors that led to the decision, Repsol cited “relatively low trading volume of its securities in the United States – due to, among other factors … capital flows deregulation and the introduction of the Euro”. (continue reading… )



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