Nokia has applied to delist itself from the Frankfurt Stock Exchange. The reason it has given is quite laughable – decreased sales volumes of stock as people loose interest in selling the stock. Elop and the Microsoft gang are singing songs about the success of the new Window Phones. But if that was the case, why does Nokia think itself as vulnerable in Germany?
Anyways, this delisting is the fourth time Nokia has delisted from a European Stock exchange, earlier being London (2003), Paris (2004) and Stockholm (2007).
According to the press release by Nokia
Stock exchange release
November 24, 2011 at 09.00 (CET+1)
Espoo, Finland – Nokia has decided to apply for the delisting of Nokia’s shares from the Frankfurt Stock Exchange due to the decreased trading volumes of Nokia shares at the exchange. The application for the delisting will be made to the Management Board of Frankfurt Stock Exchange. Subject to approval, the final day of trading of Nokia shares on the Frankfurt Stock Exchange is estimated to be during the first half of 2012.
Nokia’s trading volumes on the Frankfurt Stock Exchange have decreased during the years and currently represent only a small percentage of the total global trading volumes of the Nokia share. In 2003, 2004 and 2007 Nokia delisted from the stock exchanges in London, Paris and Stockholm respectively. Nokia shares will continue to be traded within the Eurozone on the NASDAQ OMX Helsinki Stock Exchange and in the United States in the form of American Depositary Shares on the New York Stock Exchange (NYSE).
We must not forget that the stock value of Nokia has halved since Nokia decided to kill Symbian in favor of Windows Phones.