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Singapore's Singtel to delist from Australian stock market

Xinhua, April 21, 2015 Adjust font size:

Singapore's telecom giant Singtel has officially requested to be delisted from the Australian Securities Exchange (ASX), the company said in a press release on Tuesday.

The company said it has requested ASX to remove its CHESS Depositary Interests (CDIs) from the official list due to low trading volume in the market.

During the 12 months to March 31, 2015, Singtel said that the number of CDIs traded on ASX only accounted for 6 percent of all of its shares traded.

"This reflects institutional investors' preference to hold and trade Singtel shares on its home exchange, the SGX (Singapore Exchange)," said the company.

It said the move will not affect its business and operation in Australia, and its Australian CDI holders can convert their shares on SGX on a 1:1 basis.

Singtel was listed on ASX in September 2001 in connection with its acquisition of telco Optus. Endi