Aussie oil and gas major Woodside Energy Group Ltd (ASX:WDS, LSE:WDS, OTC:WOPEF) is scrapping its secondary listing in London due to the low activity level in its shares here.
In a statement, the group said that depositary interests in London account for approximately 1% of Woodside's issued share capital with trading volumes low.
Delisting from the LSE will reduce its administration costs, Woodside said.
Woodside expects its listing on the LSE’s International Commercial Companies Secondary Listing category to be cancelled on 20 November 2024 with 19 November 2024 the last day of trading.
Woodside's primary listing on the Australian Securities Exchange (ASX) and its American Depositary Receipts (ADR) program on the New York Stock Exchange (NYSE) are not be affected, it added.
The group’s market cap currently is around £24.4 billion.