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GM To Delist From Toronto Stock Exchange

General Motors (GM) announced on Wednesday that it has been approved to voluntarily delist from the Toronto Stock Exchange. The auto giant reassured its shareholders that the TSX delisting will not impact its current listing on the New York Stock Exchange.

The delisting will take place after the close of trading on November 30.

In making the decision, the company explained that the NYSE and alternative platforms make up a "vast majority" of its daily trading volume. Meanwhile, trading volume for the stock on the TSX is relatively low.

GM said it feels it will continue to have sufficient liquidity with its NYSE listing, and that the costs related to the TSX listing are "no longer justified."

by RTT Staff Writer

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