Swedish oil company Lundin Petroleum AB has applied for the voluntary delisting of its shares from the Toronto Stock Exchange (“TSX”).
The TSX has confirmed that Lundin Petroleum’s shares will be delisted from the TSX and therefore no longer be traded on the TSX after the close of trading on Friday 14 November 2014.
No change will occur to the quotation and trading of Lundin Petroleum shares under the existing code “LUPE” on NASDAQ Stockholm (“NASDAQ Stockholm”).
Lundin has explained that its Board of Directors has determined that the minimal trading volume of Lundin Petroleum’s shares on the TSX no longer justifies the expenses and administrative efforts associated with maintaining the dual listing.
“The Company believes that its listing on NASDAQ Stockholm provides its shareholders with sufficient liquidity, as NASDAQ Stockholm accounts for nearly all of its current trading volume,” the oil explorer said in a press release.