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Creative Technology will voluntarily de-list its Ordinary Shares from NASDAQ on August 1, 2007.
According to Daily Tech, this is because the number of trades on the Singapore Exchange Securities Trading Limited has far outweighing those on NASDAQ, which has only accounted for 10 per cent by volume for the past three months.
Creative also blames the ‘evolving and increasingly burdensome US reporting obligations’, while the administrative overheads that come with being listed on NASDAQ have shown little return for the company.
The firm will continue to list its Ordinary Shares on the SGX-ST in Singapore.