General Motors said it had received approval for a voluntary delisting of its common stock from the Toronto Stock Exchange (TSX) in Canada.
The delisting will not affect the company's listing on the New York Stock Exchange (NYSE).
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Trading on the NYSE and alternative platforms accounts for a vast majority of GM's current daily trading volume. Given the relatively low trading volume of its shares on the TSX and the fact that GM's NYSE listing provides its shareholders with sufficient liquidity, the company believes that the costs associated with maintaining a dual listing are no longer justified. Accordingly, effective at the close of markets on 30 November, 2017 the company's shares will no longer be traded on the TSX.
After delisting from the TSX, the company's common stock will continue to trade on the NYSE under the symbol GM. Shareholders will be able to continue to trade their shares on other exchanges.
