Eli Lilly and Co. said it would be delisting the company's shares from Euronext Paris.
The Indianapolis-based drugmaker requested the delisting due to very low trading volume and to avoid the associated costs and administrative requirements for the secondary listing.
The company expects to delist its shares from Euronext Paris on Oct. 31 while maintaining its listing on the New York Stock Exchange under the ticker symbol LLY.
Lilly will provide all its Euronext shareholders a voluntary sales facility to sell all or part of their holdings on the New York Stock Exchange. The shareholders may choose not to avail the facility but will be limited to trading their securities on the American exchange after the delisting.
BNP Paribas Securities Services is the centralizing agent for the voluntary sales facility.
