STOCKHOLM, Sweden, Feb. 15, 2005 (PRIMEZONE) -- The Board of Directors of AB Electrolux (ELUX) has decided to delist the Group's American Depository Receipts (ADRs) from the NASDAQ Stock Market in the U.S. The ADR program will be maintained, and trading in these receipts will be transferred to the U.S. over-the-counter market.
The majority of the trading in Electrolux shares is on the Stockholm Stock Exchange. Trading volume in ADRs is low and does not justify a listing. In addition, capital markets are becoming increasingly global which reduces the need for listings on multiple exchanges.
The Group will continue to submit an annual report on Form 20-F and quarterly reports on Form 6-K to the American Securities and Exchange Commission (SEC).
Electrolux ADRs have been listed on NASDAQ since 1987. One ADR corresponds to two B-shares. In addition to the Stockholm Stock Exchange, Electrolux shares are listed on the London Stock Exchange.
The Electrolux Group is the world's largest producer of powered appliances for kitchen, cleaning and outdoor use, such as refrigerators, washing machines, cookers, vacuum cleaners, chainsaws, lawn mowers, and garden tractors. Every year, customers in more than 150 countries buy more than 55 million Electrolux Group products for both consumer and professional use sold under famous brands such as AEG, Electrolux, Zanussi, Frigidaire, Eureka and Husqvarna. In 2004, Electrolux had sales of SEK 121 billion and 72,000 employees.
Further information
For further information, please contact Investor Relations at +46 8 738 60 03. Electrolux Press Hotline is available at +46 8 657 65 07.
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