Know WHAT Signet says about LSE listing
Signet Jewelers publicized its plan to remove self from the official register of a London stock exchange due to lack of liquidity for its shares on the New York Stock Exchange (NYSE) and the LSE. Further, the company likes to reduce the cost connected with keeping the two listings.
Signet Jewelers promulgated its plan to take the voluntarily delisting of the brand’s shares from the LSE (London Stock Exchange) due to the lack of availability of liquid assets for its shares on the bourse as well as streamline governance and reduce costs related to maintaining two listings. As per the stated on the February 16, it is reported that the U.S based board of jewelry retailers has resolved the petition for the annulment of a standard listing of common shares on the main market of London Stock Exchange. Further, the panel reviewed the Signet Jeweler’s stock-exchange listings last year and discovered that the total trades placed on the (LSE), i.e., London Stock Exchange in the year 2014 counts same in the trading done in the five days on U.S. exchanges. It is alleged that less than 1% of the brand’s yearly trading volume is executed on the London Stock Exchange, and the benefit of listing on the LSE is compensé by the regulatory burdens in addition to the monetary expense and time spent on the LSE-driven activity. Consequently, the jury resolved to delist the shares of the Brand, Signet from trading on the LSE. As a result, the shares would remain to be sold on the LSE until March 11, and the termination will take force on March 14.