Linde plc: Linde Prepares for Last Day of Trading on Frankfurt Stock Exchange
Linde (NYSE:LIN) has announced that the Irish High Court hearings regarding its intercompany reorganization are set for February 27, 2023. If approved, the last trading day on the Frankfurt Stock Exchange will be February 28, 2023. Post-reorganization, shareholders will receive one share of the new holding company for each existing share.
The new entity, also named Linde plc, will trade solely on the NYSE under the ticker LIN starting March 2, 2023, with a new ISIN and CUSIP. The reorganization aims to simplify Linde's stock listings.
- Shareholders will automatically receive shares of the new holding company, simplifying ownership.
- The reorganization aims to streamline Linde's stock listings, potentially improving market efficiency.
- The decision to delist from the Frankfurt Stock Exchange may limit European investor access to the stock.
WOKING, UK / ACCESSWIRE / February 23, 2023 / Linde (NYSE:LIN)(FWB:LIN) announced today that the Irish High Court hearings regarding its intercompany reorganization are scheduled for February 27, 2023. Once the reorganization is approved by the Irish High Court, Linde expects its last trading day on the Frankfurt Stock Exchange to be February 28, 2023.
The intercompany reorganization is expected to close on March 1, following which Linde shareholders will automatically receive one share of the new holding company in exchange for each share they own immediately prior to the closing. The exchange of shares held through the Depository Trust Company (DTC) will be executed through DTC; therefore, Linde shareholders are not required to take any action to exchange their shares. Linde shareholders will be able to continue trading their current Linde shares on the New York Stock Exchange through March 1.
The new holding company, also named "Linde plc", will be listed solely on the New York Stock Exchange and as of March 2, 2023 will trade under the existing ticker "LIN". The shares will have a new ISIN (IE000S9YS762) and a new CUSIP (G54950 103). The sole purpose of the reorganization is to reduce the number of stock exchanges where the Linde stock is listed.
Following the reorganization, Linde proposes to apply to the Irish High Court for a capital reduction for the purposes of creating distributable reserves under Irish law. The date of that court hearing shall be published on Linde's website once known.
About Linde
Linde is a leading global industrial gases and engineering company with 2022 sales of
The company serves a variety of end markets such as chemicals & energy, food & beverage, electronics, healthcare, manufacturing, metals and mining. Linde's industrial gases and technologies are used in countless applications including production of clean hydrogen and carbon capture systems critical to the energy transition, life-saving medical oxygen and high-purity & specialty gases for electronics. Linde also delivers state-of-the-art gas processing solutions to support customer expansion, efficiency improvements and emissions reductions.
For more information about the company and its products and services, please visit www.linde.com
Contacts: | |
| Investor Relations Juan Pelaez Phone: +1 203 837 2213 Email: juan.pelaez@linde.com | Media Relations Anna Davies Phone: +44 1483 244705 Email: anna.davies@linde.com |
SOURCE: Linde plc
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