Photo by: Bloomberg
PERTH (miningweekly.com) – Aluminium major Alcoa has applied to have its listing on the ASX removed.
Alcoa, which has been trading on the ASX since 2000, said on Tuesday that the number of the company’s chess depository interests quoted on the ASX now represented less than 1% of the group’s total issued share capital.
Alcoa added that sustaining the administrative costs of an ASX listing was not justifiable, given the low levels of shares quoted on the Australian bourse, and the low level of trading on the ASX compared with the NYSE.
Alcoa is expected to delist from the ASX on October 17.