Infineon Technologies has announced that it has delist its American depositary shares (ADSs) from the New York Stock Exchange (NYSE).

The company expects that the delisting will take effect on April 24, 2009, and that as of that date, the ADSs will no longer be traded on the NYSE.

The Frankfurt Stock Exchange (FSE) represents Infineon's principal trading market, with trading on the NYSE accounting for a relatively low percentage of trading of its ADSs and ordinary shares on a worldwide basis, the company said. Infineon has therefore weighed the benefits of listing on the NYSE against the associated costs and reached the decision that continuing the listing of the ADSs is no longer commercially justifiable, it added.

Infineon will pursue a listing of its ADSs on the over-the-counter market OTCQX, and its ordinary shares will continue to be traded on the FSE, according to the company.

By: DocMemory
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