BASF delisting from New York Stock Exchange

BASF delisting from New York Stock Exchange BASF, the world’s largest chemicals company, has decided to delist its American Depositary Shares from the New York Stock Exchange in a bid to save 5 million euros ($6.8 million) per year.
   The German firm expects the delisting to become effective Sept. 6. BASF’s ordinary shares will continue to be traded on the stock exchanges in Frankfurt, London and Zurich.
   'Our decision to delist from the New York Stock Exchange underlines BASF's continuous efforts to reduce complexity and costs,' said J'rgen Hambrecht, BASF’s chairman of the board of executive directors. 'BASF's senior management remains committed to maintaining an open dialogue with U.S. investors.'