Oil-field services giant Schlumberger said it will cancel its listing on the London Stock Exchange (LSE), ending nearly six decades of trading on one of Europe’s premier exchanges. The firm will continue to have its primary listing on the New York Stock Exchange, and will also trade on the Paris Euronext. Schlumberger said its shares see “only a small amount of trading” on the LSE. Given the high administrative costs and ongoing regulatory requirements of the exchange, the company’s board of directors “determined that there is no significant benefit” to a continued London listing.
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