ROME (AP) _ Italian carmaker Fiat SPA said Friday it will delist
its American depository shares from the New York Stock Exchange
because of sustained low share trading volume.
The Turin-based company said in a statement it expected delisting
to become effective on or around Aug. 23.
The carmaker also said it would ask the U.S. Securities and
Exchange Commission to terminate its duties to file reports. Fiat
plans to file the necessary forms on or around Aug. 13 and expects
deregistration to become effective about 90 days later.
Fiat said the delisting and deregistration would not affect its
business strategy in the United States.
Its ordinary, preference and savings shares will remain listed on
its primary market, the Italian Stock Exchange.