RBS abandoned its listing on Euronext Amsterdam yesterday, as so few traders buy and sell stocks on the exchange.
The Dutch listing is a legacy of RBS’ ill-fated acquisition of ABN Amro in 2007, which contributed to the bank’s collapse and subsequent bailout the following year. But since then RBS has slashed its overseas and investment banking operations.
Mirroring that overseas withdrawal, trading of its shares on the Amsterdam exchange has dived. In a typical day, 15.2m RBS shares will be traded on the London Stock Exchange, while 389,000 are traded in New York – compared with just 7,000 in Amsterdam.
By delisting from Amsterdam, RBS hopes to save the bank money and cut complexity for investors.
“The expected date for effective cancellation of the listing would be 17 April 2015, which means that the last trading date on Euronext Amsterdam will be 16 April 2015,” RBS said in a market statement.