14 SEPTEMBER 2016AlCircle.com
Alcoa applies for delisting from the ASX
Edited by : Dipanwita Gupta
1 min read
<p>Global aluminium giant Alcoa has applied for delisting from the Australian Securities Exchange (ASX), the company said in a statement on Tuesday.<br /><br />Alcoa has been trading on the bourse since 2000. Presently, the number of the company's chess depository interests quoted on the ASX represents less than one per cent of the group's total share capital issued in the market, the document stated. <br /><br /><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;" src="http://www.alcircle.com/uploads/images/Alcoa.jpg" alt="News" width="480" height="420" /><br />Given the huge administrative cost incurred for the listing, especially when the share volume quoted on the ASX was low, it was becoming increasingly unsustainable, Alcoa added. In fact, trading on the ASX was far lower than that on the NYSE. <br /><br />{googleAdsense}<br /><br />Alcoa is expected to have its listing on the ASX removed on October 17, stated Mining Weekly on their website.</p>
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