Energy World Corp. to delist from NZX on lack of interest, costs

Energy World Corp., whose New Zealand shares last traded on April 13, will delist from the NZX as of Oct. 12 because of the lack of local interest and costs.

Today will be the last trading day for Energy World shares in New Zealand. They last traded at 63 cents in April.

The eight shareholders who currently hold the New Zealand shares, the company's secondary listing after the ASX, will have their holdings transferred to the Australian exchange, the company said in a statement today.

"In view of the fact that only eight shareholders are presently listed on this secondary listing, the board has determined that the costs of the secondary listing are not justified," it said.

Energy World's ASX-listed stock last traded at 46 cents, valuing the company at A$798 million.

The company is involved in the Gulf LNG Project in Papua New Guinea and reportedly has plans to invest up to US$500 million to develop LNG in East Java.

BusinessDesk.co.nz

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