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Linde wants to withdraw from the Frankfurt Stock Exchange

The industrial gases group Linde wants to say goodbye to the Frankfurt Stock Exchange.

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Linde wants to withdraw from the Frankfurt Stock Exchange

The industrial gases group Linde wants to say goodbye to the Frankfurt Stock Exchange. The Dax group announced on Monday evening that the board of directors had decided to propose to the shareholders that they withdraw from the Frankfurt Stock Exchange. The dual stock exchange listing in New York and Frankfurt has a negative impact on the company's valuation.

In the event of a withdrawal, Deutsche Börse would lose a heavyweight and one of the most valuable companies in the leading German index, the Dax. The traditional Munich company Linde merged with US competitor Praxair in 2018.

In the event of the implementation of the withdrawal plans, a new holding company would be formed. Shareholders will receive one share in the new holding company for each Linde plc share to be listed on the New York Stock Exchange. The new holding company will be called Linde.

"We are very proud of our rich history and strong presence around the world, including our origins in Germany," said CEO Sanjiv Lamba, who has been managing Linde for a good six months. The double listing has served well, but it has slowed down the price development due to the restrictions in Europe.

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