CNH Industrial completed the voluntary delisting of its shares from Euronext Milan. Shares of CNH Industrial are now solely listed on the New York Stock Exchange.
“The single listing on the NYSE is the latest step in our ongoing simplification journey, which accelerated in 2022 as we became an agriculture and construction equipment pureplay,” Scott W. Wine, CEO of CNH Industrial, said. “Considering this delisting and other initiatives enacted over the past two years, CNH is fundamentally a different company: more customer focused, more efficient and more profitable. With this renewed foundation, we are enthusiastic about our future.”
As announced on Feb. 2, 2023, CNH’s decision to delist was taken following a careful review of the relative trading volumes on the two exchanges as well as the costs and administrative resources required to maintain the listing on Euronext Milan. The majority of CNH stock trading has progressively shifted to the NYSE, indicating that the company’s business profile and investor base fit better with a single U.S. listing. According to the company, concentrating trading in one market should allow for increased liquidity and investor focus while further simplifying the company’s profile and compliance requirements.
Goldman Sachs is acting as financial advisor to CNH Industrial.
