Swiss Steel: Plans for voluntary delisting from SIX Swiss Exchange

by David Fleschen

Swiss Steel Holding AG, a leading global provider of special long steel, has announced its intention to voluntarily delist from the SIX Swiss Exchange. The company plans to offer an off-exchange trading solution for its shares, citing the current small free float as a key factor in the decision.

In recent years, Swiss Steel Group has implemented extensive restructuring and reorganization initiatives, resulting in a shareholder base primarily composed of a few large, long-term investors. As a result, the company's shares have experienced low free float and limited trading activity, leading to reduced market liquidity. The Board of Directors has concluded that the costs and administrative requirements associated with maintaining a listing on the SIX Swiss Exchange outweigh the benefits. The voluntary delisting is expected to allow the company to allocate resources more efficiently towards restructuring efforts and operational enhancements, in alignment with the strategic goals outlined in the SSG 2025 plan.

The company has emphasized that the decision to delist is based on strategic considerations and is not influenced by short-term market conditions or economic factors.

An Extraordinary General Meeting (EGM) has been scheduled for February 17, 2025, to seek shareholder approval for the proposed delisting. Shareholders are encouraged to refer to the official EGM invitation for further details. Should the delisting receive approval, the Board of Directors will oversee the process in compliance with Swiss regulations and standard practices. A formal delisting application will be submitted to the SIX Regulatory Board, which will determine the final trading date on the exchange.

Important dates related to the delisting will be communicated to shareholders through official ad-hoc announcements via the SIX channels and the company's website.

Source and Photo: Swiss Steel Group

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