Woodside to delist from London exchange
Australian oil and gas major Woodside has announced its decision to delist from the LSE, attributing the move to low trading volumes and a goal to lower administrative costs.
The company has submitted an application to the UK Financial Conduct Authority and the LSE to cancel the admission of its shares. Trading in Woodside shares on the LSE will officially end on November 20, with the last day of trading set for November 19.
The group's primary listing remains on the ASX, and its American Depositary Receipts programme on the NYSE will continue unaffected.
Meanwhile, Woodside reported a 21% quarter-on-quarter rise in third-quarter revenue, owing to higher Sangomar cargo sales and stronger liquefied natural gas prices.
The company posted revenue of $3.68-billion for the September quarter, compared with $3.03-billion in the June quarter.
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