Thursday, June 7, 2007

hanarotelecom to Delist from Nasdaq, Eliminating U.S. Reporting Obligations

hanarotelecom, the Korean broadband operator, provided written notice to Nasdaq of its intent to delist its American Depositary Receipts ("ADRs"). Delisting from Nasdaq will consolidate trading on hanarotelecom's primary exchange, KOSDAQ (Korean Securities Dealers Automated Quotation), which accounts for approximately 99% of total worldwide trading. It will also free the company from reporting requirements under the U.S. Securities Exchange Act.

  • In May 2007, Spirent Communications and Telstra separately announced plans to delist their shares from U.S. markets.