Latest in Business

Image credit:

Creative delisting from NASDAQ, cites 'burdensome' regulations

Evan Blass

So it looks like we're not the only ones who are sick and tired of filling out forms and sending them in to Uncle Sam, as Singapore-based Creative has announced plans to delist its publicly traded shares from the NASDAQ Global Exchange, citing administrative costs associated with meeting "increasingly burdensome U.S. reporting obligations." The manufacturer of such diverse products as X-Fi sound cards and Live! webcams expects to withdraw its ordinary shares by August 1st and move trading entirely over to the Singapore Exchange Securities Trading Limited, which already sees 90% of the company's average worldwide daily trading volume anyway. As expected, Creative's US shares have already started to tank as investors contemplate the complications of trading in a foreign market, but Creative diehards can probably anticipate a rebound once the integration has been completed. Or so our boiler room broker tells us...

[Via epiZENter]

From around the web

ear iconeye icontext filevr