Now that BASF is delisting from the NYSE, it is saving €5 million per year, a significant amount.
They should not be seen to be doing this just to save money, to not have to report as required there or to not have to comply with adequate governance standards.
What loss in governance standards result from this move?
It is advisable for BASF to make some positive governance moves to allay any potential fears. It will be cheaper as well.
Onésimo Alvarez-Moro
See article:
German chemicals group BASF hopes to save €5m ($6.85m) a year by delisting from the New York Stock Exchange to focus share trading on Frankfurt, London and Zurich from the beginning of September.
With the company joining a steady stream of foreign companies abandoning US listings, chief financial officer Kurt Bock said 97 per cent of trading in BASF shares now took place in Europe.
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