GE Aerospace To Quit 3 European Stock Exchanges

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GE Aerospace To Quit 3 European Stock Exchanges

General Electric Co. announced Wednesday that it plans to end its listing on the London, Paris, and Zurich stock exchanges following an internal review. This move comes after the launch of GE Aerospace as a standalone company.

GE Aerospace To Quit 3 European Stock Exchanges : Plans for Delisting

The aircraft engine maker, operating as GE Aerospace, has applied to the London Stock Exchange to cancel its admission to the main market. Additionally, it is in the process of withdrawing from Euronext Paris and the SIX Swiss Exchange.

Reasons for the Move

“This action follows a comprehensive review of the trading volume, cost, and administrative requirements related to these listings. Following the delisting, GE Aerospace shares will continue to be traded on the New York Stock Exchange,” the company stated.

GE Aerospace To Quit 3 European Stock Exchanges : Simplification Project

GE Aerospace, a supplier of engines for the Boeing 787 Dreamliner, emphasized that this move is part of a simplification project. The project follows the company’s transition to an independent public company, a change announced in April.

Timeline and Shareholder Guidance

The company, based in Cincinnati, expects its shares to stop trading on the LSE on July 17, at least 20 business days after the planned delisting was announced. GE Aerospace urged shareholders with a Crest depository interest (CDI) to consult their advisers and brokers regarding converting these holdings into shares that can be traded on the NYSE.

Limited Impact Expected

“The LSE delisting is expected to have limited impact for shareholders who hold their shares on the NYSE,” GE Aerospace noted. “However, any shareholder with questions regarding the LSE delisting is recommended to consult their investment adviser or broker.”