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Shareholders approve Linde's delisting from Frankfurt stock exchange

Shareholders approve Linde's delisting from Frankfurt stock exchange
Shareholders approve Linde's delisting from Frankfurt stock exchange Copyright Thomson Reuters 2023
Copyright Thomson Reuters 2023
By Reuters
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- Shareholders have approved Linde's delisting from the Frankfurt Stock Exchange (FSE), the world's largest industrial gases firm said on Wednesday.

The company said it expects its shares will be delisted on or about March 1, following legal approval.

As a result, Linde's shares will be exchanged one-for-one in a new public company incorporated in Ireland under the same name, and will be traded only on the New York stock exchange (NYSE).

The dual listing in New York and Frankfurt had a negative impact on the valuation, Chief Executive Sanjiv Lamba said in October.

The company said 93% of votes cast were in favour of the resolution.

Linde is the largest constituent of Germany's blue-chip index DAX and will no longer be included after the withdrawal.

The gas giant's stock dropped as much as 2% right after the announcement but by 1615 GMT was down 1.4%.

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