15 March 2013 13:05 [Source: ICIS news]
HOUSTON (ICIS)--Stepan will delist its shares from the Chicago Stock Exchange because of limited trading volumes and the company's desire to reduce administrative costs, the US-based producer of specialty and intermediate chemicals said on Friday.
The delisting is expected to take effect on 4 April, the company said. However, Stepan will maintain its listing on the New York Stock Exchange.
“The company's decision to withdraw its securities from listing on the CHX [Chicago Stock Exchange] is based on the limited trading volume of its securities on the CHX, and the company's desire to eliminate the duplicative cost and administrative burden required to maintain listings on both the New York Stock Exchange (NYSE) and the CHX,” it said in a statement.
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