Europe flees US as new rules bite hard

August 2007
ICIS Chemical Business;8/20/2007, Vol. 272 Issue 7, p19
Trade Publication
The article reports that some European companies are intending to delist from the New York Stock Exchange. BASF, Ciba Specialty Chemicals, Rhodia, ICI, Akzo Nobel are planning to cut down on costs. The chemical producers are said to be aiming to counter costs associated with the highly prescriptive U.S. financial reporting rules for corporates, and are ready to maintain their levels of disclosure to the U.S. investors willing to trade American Depositary Receipts in the over-the-counter market.


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