With no trading on its share in The Calcutta Stock Exchange Ltd (CSE), The Linde Group’s India arm has decided to delist from the exchange.
The company explained on 23rd October (2015) that, “It has informed the Bombay Stock Exchange (BSE) that the CSE has, by its letter dated 16th October 2015, confirmed to the company that its application for voluntary delisting of its shares from the CSE under SEBI (Delisting of Equity Shares) Regulations, 2009 has now been granted by the said exchange with effect from 19th October 2015.”
Speaking to gasworld, an official of Linde India said, “Our share was not trading because CSE has become defunct for the last five years and there was no point in trading shares in defunct exchange and also, there is no chance of revival for the exchange.”
“The board has decided that it will only list the shares on the exchange that has national reach, so the company shares will be continued to be listed on National Stock Exchange (NSE) and BSE,” the official added.
Even in CSE, the shares were trading through BSE and NSE terminal, so there appeared little point in keeping the shares listed at CSE.
At NSE, Linde India stock was trading at $4.81 per share (INR 316), down 1.25%, and at BSE the shares were trading at $4.79 per share (INR 415), down by 1.58% before the market closed on 4th November 2015.