The company announced that it aims to make the necessary applications for its shares to be traded on over-the-counter platforms due to its low free float.
Swiss Steel Group has experienced a comprehensive restructuring process in recent years, which has resulted in the inclusion of long-term investors in its shareholder structure. However, the Board of Directors of Swiss Steel Holding AG stated that liquidity problems were experienced due to the low free float of the company's shares and limited trading volume, and emphasized that the high costs and administrative burdens of being traded on the stock exchange exceeded the advantages it provided.
In a statement, it emphasized that the decision to delist from the stock exchange will allow Swiss Steel Group to direct its resources more effectively towards its 2025 strategic goals. The decision is independent of short-term economic conditions. Shareholders were invited to the Extraordinary General Meeting (EGM) to be held on February 17, 2025. At the meeting, the plan to delist from the stock exchange will be voted. In case of approval, Swiss Steel Holding AG announced that it will carry out the process in accordance with Swiss laws and regulations.
Comments
No comment yet.