General Motors will voluntarily delist its common stock from the Toronto Stock Exchange (TSX) in Canada.
The company states that the reason for the delisting is that the NYSE accounts for a vast majority of the daily trading volume of GM stock, and that “given the relatively low trading volume of its shares on the TSX and the fact that GM’s NYSE listing provides its shareholders with sufficient liquidity, the company believes that the costs associated with maintaining a dual listing are no longer justified.”
GM’s shares will no longer be traded on the TSX as of November 30th, 2017.
What’s more, the delisting of GM shares from the TSX will not impact its listing on the New York Stock Exchange (NYSE) and after its delisting on the TSX, the firm’s common stock will continue to trade on the NYSE under the symbol GM — as it does currently.
Shareholders will be able to continue to trade their shares on other exchanges and those who wish to do so should contact their broker or investment manager for further details.
The company has already applied and received approval for the voluntary delisting.
GM notes that the Toronto Stock Exchange has neither approved nor disapproved the information contained herein.