CNH Industrial completes Voluntary Delisting of Shares from Euronext Milan and begins Single Listing on the New York Stock Exchange
03 January 2024, Basildon: CNH Industrial N.V. (NYSE: CNHI) announces that it has completed the voluntary delisting of its shares from Euronext Milan. Shares of CNH are now solely listed on the New York Stock Exchange (NYSE).
“The single listing on the NYSE is the latest step in our ongoing simplification journey, which accelerated in 2022 as we became an agriculture and construction equipment pureplay,” said Scott W. Wine, Chief Executive Officer. “Considering this delisting and other initiatives enacted over the past two years, CNH is fundamentally a different company: more customer focused, more efficient, and more profitable. With this renewed foundation, we are enthusiastic about our future.”
As announced on February 2, 2023, CNH’s decision to delist was taken following a careful review of the relative trading volumes on the two exchanges as well as the costs and administrative resources required to maintain the listing on Euronext Milan. The majority of CNH stock trading has progressively shifted to the NYSE, indicating that the Company’s business profile and investor base fit better with a single US listing. Concentrating trading in one market should allow for increased liquidity and investor focus, while further simplifying the company profile and compliance requirements.
CNH’s Board of Directors and its Senior Leadership Team are grateful to Euronext Milan for having been our secondary listing venue for more than 10 years and are excited about the Company’s continued presence on the NYSE.
Goldman Sachs & Co. LLC is acting as financial advisor to CNH.
CNH Industrial (NYSE: CNHI) is a world-class equipment and services company. Driven by its purpose of Breaking New Ground, which centers on Innovation, Sustainability and Productivity, the Company provides the strategic direction, R&D capabilities, and investments that enable the success of its global and regional Brands. Globally, Case IH and New Holland Agriculture supply 360° agriculture applications from machines to implements and the digital technologies that enhance them; and CASE and New Holland Construction Equipment deliver a full lineup of construction products that make the industry more productive. The Company’s regionally focused Brands include: STEYR, for agricultural tractors; Raven, a leader in digital agriculture, precision technology and the development of autonomous systems; Hemisphere, a leading designer and manufacturer of high-precision satellite-based positioning, and heading technologies; Flexi-Coil, specializing in tillage and seeding systems; Miller, manufacturing application equipment; Kongskilde, providing tillage, seeding and hay & forage implements; and Eurocomach, producing a wide range of mini and midi excavators for the construction sector, including electric solutions.
Across a history spanning over two centuries, CNH has always been a pioneer in its sectors and continues to passionately innovate and drive customer efficiency and success. As a truly global company, CNH’s 40,000+ employees form part of a diverse and inclusive workplace, focused on empowering customers to grow, and build, a better world.
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