Allianz SE has provided written notice to the New York Stock Exchange (NYSE) of its intention to voluntarily delist its American Depositary Shares (ADS) and its 8.375% Undated Subordinated Callable Bonds (Bonds) from the NYSE. Delistings of Allianz’s ordinary shares from the stock exchanges in London, Milan, Paris and the Swiss Exchange shall follow in due course.
With this move, Allianz will focus the trading of its share in particular on the Frankfurt Xetra trading platform as the market with the highest liquidity. In recent years, trading of Allianz shares on non-German stock exchanges accounted on average for significantly less than 5% of the total trading of Allianz shares, despite the fact that approximately 70% of Allianz shares are held by investors outside of Germany. The delistings will have no impact on the strategic orientation of Allianz nor on its presence in the individual geographic markets.
"Allianz adjusts to international trading practices and by doing so reduces the complexity of its presence in the capital markets. The vast majority of international investors already uses our listing in Frankfurt to buy and sell Allianz shares," says Paul Achleitner, Member of the Board of Management of Allianz SE.