STB maker Nokia delists from LSE

Set-top-box maker Nokia has applied for delisting from the London Stock Exchange, with delisting expected to take place on November 26.

In a statement, Nokia said:

"The liquidity of Nokia shares has been for several years very limited on the London Stock Exchange, currently representing less than one per cent of the total trading volume of Nokia shares globally. This measure will encourage the concentration of the trading of Nokia shares in the most liquid market places in Europe as well as in other markets.

"After the de-listing in London, Nokia shares will be traded on the Helsinki Stock Exchange (HEX), the Frankfurt and Paris Stock Exchanges within the euro zone, New York Stock Exchange (NYSE), and Stockholm Stock Exchange. As of October 2003, HEX has represented approximately 60 per cent and NYSE approximately 25 per cent of the total trading volume in Nokia shares globally."