Singtel gets nod for Australian stock exchange delisting

SINGAPORE - Singtel announced on Wednesday morning that it has received approval from the Australian Securities Exchange (ASX) to delist its securities, in the form of CHESS Depositary Interests (CDIs).

Singtel, the owner of Australia's second-largest telco Optus, said a day earlier that the move to delist was due to the securities' low trading volume, liquidity and market demand.

Trading of Singtel CDIs on the ASX will be suspended on May 29, 2015. The effective date of removal of Singtel from the official list of the ASX is June 5.

Singtel, which is a component stock of the Straits Times Index (STI), said it will continue to be listed on the SGX and trading will not be disrupted during the delisting process from the ASX.

The telco also said its Australian operations - Optus - will not be affected by the proposed delisting.