The Zhitong Finance App learned that Caterpillar (CAT.US) said on Monday that it will delist from two European exchanges after evaluating its listed shares.
The company's shares will be delisted from Euronext Paris on May 28 and from the Swiss Stock Exchange by the end of 2024. After that, the company will only trade on the New York Stock Exchange, where it is mainly listed.
The company said that the reasons considered for delisting include significantly lower trading volume, costs, and administrative requirements associated with listing on European exchanges.
Caterpillar warned on Thursday that sales would drop this quarter due to sales being impacted by the tightening of equipment inventories by dealers, which raised concerns that the months-long boom in demand for machinery may be coming to an end.