Swiss Steel Holding AG, a leading company in the specialty steel sector, has operations across Europe and North America. It has announced its intention to voluntarily delist from the SIX Swiss Exchange. The company, which owns recycled-content steel mills including Finkl Steel in Chicago, plans to shift its shares to over-the-counter (OTC) trading.

Reasons for Delisting and Strategic Move

The decision follows years of restructuring and reorganization within the company. This has resulted in a shareholder structure dominated by a small number of large, long-term investors. As a result, Swiss Steel’s shares have experienced a low free float and limited trading volume. This led to an illiquid market for the company’s stock. In a late January release, the company explained that the costs and administrative burdens of maintaining the listing no longer justified the benefits.

By delisting, Swiss Steel aims to allocate its resources more efficiently. It will focus on further restructuring and operational improvements. The company emphasized that the decision was not driven by short-term economic factors. Rather, it was a strategic move to optimize its long-term goals.

Next Steps for Swiss Steel and Shareholder Approval

Swiss Steel has scheduled an extraordinary general meeting (EGM) for February 17. At the meeting, shareholders will vote on the delisting proposal. If the delisting is approved, the company will proceed with the necessary steps. These include applying for the delisting with the SIX regulatory board and determining the final trading date for its shares on the Swiss stock exchange.