Volkswagen AG (VOW), Europe’s largest automaker, plans to delist both ordinary and preference shares from the London Stock Exchange effective Oct. 28 due to low trading volume.
The application for delisting has been made to the Financial Conduct Authority, the Wolfsburg, Germany-based company said in a regulatory filing.
“The trading volume is too low to justify the related administrative efforts,” Marco Dalan, a VW spokesman, said by telephone.
VW has been stepping up efforts to cut costs to offset shrinking demand in its home region, where new-car sales are sliding to a 20-year low. Volkswagen steered through the European car industry gloom better than most mass-market peers, mainly because of its large presence in China and profits from upscale brands such as Porsche and Audi.
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