French telecom giant Orange (ORAN.PA) announced on Wednesday its decision to delist its shares from the New York Stock Exchange (NYSE), citing the financial burden of maintaining a secondary listing. The move also includes deregistering from the U.S. Securities and Exchange Commission (SEC).
According to a press release, the board of directors made this decision after carefully considering the significant financial and administrative requirements of sustaining both the NYSE listing and SEC registration. Orange aims to streamline internal operations and enhance efficiency with this step.
The delisting is expected to have no effect on Orange’s U.S. clients, partners, or its operations in the U.S. Additionally, Orange plans to deregister two sets of debt securities previously issued on the NYSE.