Oil services group CGG to delist U.S. shares
PARIS, Sept 11 (Reuters) - Oil services group CGG
, which has been emerging from a debt restructuring plan,
said it would delist its U.S. securities as the company felt the
New York Stock Exchange listing was too expensive.
"CGG believes that the costs associated with continuing the
listing and registration of its ADSs (American Depositary
Shares) exceed the benefits received by CGG, and as the primary
market for CGG shares is Euronext Paris," the company said.
The company's Paris-listed shares have risen nearly 50
percent so far in 2018, as robust oil prices have generally
supported companies operating in the energy sector.
(Reporting by Sudip Kar-Gupta, Editing by Sherry
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