“K” Line to delist stocks in Europe
Kawasaki Kisen Kaisha Ltd. has followed fellow Japanese shipping group NYK Line, reporting it will withdraw the listing of its ordinary shares from the Frankfurt stock exchange.In addition, “K” Line said Friday it will delist its stock from the Euronext exchange in Brussels.
The decision to delist is due to the low turnover in recent months and costs, “K” Line said. The company expects the changes to be completed by about October of next year. Its stocks have been traded on the European stock exchanges since 1975.
Meanwhile, NYK’s delisting from the Frankfurt exchange will be completed in March.
The moves by both Japanese companies, whose stocks will still be traded on Japanese stock exchanges, mean they will no longer be listed on European exchanges.
A spokesman for Mitsui O.S.K. Lines in Tokyo said his company, Japan’s other major shipping group, has no plan to delist its stock from the Frankfurt stock exchange.
