Swiss Steel wishes to withdraw from the Swiss Stock Exchange
Keystone-SDA
Steelmaker Swiss Steel announced on Friday its intention to delist its shares from the SIX Swiss stock exchange.
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Management is considering the possibility of trading its shares over the counter. An extraordinary general meeting is scheduled for February 17.
“The Board of Directors has decided that the usefulness of a stock market listing on SIX no longer justifies the relatively high costs and administrative requirements associated with it”, the company stated.
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Major restructuring and reorganisation measures of recent years have led to “a shareholder structure characterised by a small number of large investors committed to the long term. As a result, the free float of SIX-listed shares is low”, the company explained.
The delisting would enable Swiss Steel to refocus its resources to support the objectives of the SSG 2025 strategy. “This decision is not influenced by short-term external factors or the economic situation”, it states.
Translated from French by DeepL/mga
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