29 October 2012 14:05 [Source: ICIS news]
LONDON (ICIS)-- Dow Chemical intends to delist from the Euronext Paris Stock Exchange and Euronext Brussels Stock Exchange as a result of low trading volumes, the company said on Monday.
The US chemicals giant is to cease trading its common stock in Paris and its depositary receipts in Brussels, but is to continue to be listed on the New York Stock Exchange under the symbol “DOW”, the company said. Dow did not disclose a timeline for the delisting.
The news follows an announcement by the company last week that its net income for the third quarter of 2012 had fallen by 35% year on year to $582m (€448m). Net sales were also down by 10% over the period at $13.6bn, the company said.
Dow Chemical also revealed last week that it intends to shut down about 20 plants by the end of 2014, resulting in the loss of 2,400 jobs.
The Paris, Brussels and New York exchanges are all owned by NYSE Euronext.
($1 = €0.77)
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