The board of Vizrt Ltd. (XETRA: VIZ; OBX:VIZ) has decided to delist the company from the Frankfurt Stock Exchange, but to keep its shares on the Oslo Stock Exchange. Vizrt develops 3D graphics and maps, integrated video workflow solutions, and online publishing for the digital media industry.
22% of Vizrt's outstanding shares are traded on the Frankfurt Stock Exchange, and 16% of trade in the share between October 2008 and March 2009 took place on this exchange. Trading volume in the share was €5.5 million on the Frankfurt Stock Exchange, compared with €29.4 million on the Oslo Stock Exchange during this period.
Vizrt is headquartered in Norway and it has an R&D center in Israel. Vizrt CEO Bjarne Berg said, "Vizrt's shareholders are increasingly Norwegian, rather than German, and the trading volume in Oslo is greater than in Frankfurt. We therefore decided that there was no point in registering the shares on the Frankfurt Stock Exchange."
Vizrt is one of the more successful Israeli companies listed in Europe. The company held its IPO on the Frankfurt Stock Exchange and dual-listed in Oslo four years ago when it raised $5.8 million at 12.17 Norwegian Krone per share.
Published by Globes [online], Israel business news - www.globes-online.com - on May 17, 2009
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