Less than a month after HSBC Holdings plc (LON:HSBA) announced its decision to delist from Euronext Paris, the Board of Directors of the Exchange has approved the delisting.

The decision by HSBC to delist was taken following a review of the trading volumes, costs and administrative requirements related to its listing on Euronext Paris.

HSBC notes that the delisting will have no impact on HSBC’s day-to-day operations in France or in Continental Europe, where HSBC remains committed to its plans to be a leading international bank in Europe. It will also not impact HSBC’s other listings on the London Stock Exchange, The Stock Exchange of Hong Kong Limited, the New York Stock Exchange or the Bermuda Stock Exchange.

A sales facility procedure will be put in place from November 27, 2020 to December 18, 2020 to allow shareholders to sell on the LSE their HSBC shares which are listed on Euronext Paris and held in the Euroclear France clearing system. HSBC has appointed CACEIS Corporate Trust to act as centralizing agent under the Sales Facility.

During the Sales Facility Period, shareholders with HSBC Euronext Shares will have the following options:

• sell on a voluntary basis all or part of their HSBC Euronext Shares on the LSE by participating in the Sales Facility; or
• retain all or part of their HSBC Euronext Shares, which will continue to be traded on Euronext Paris during the entire Sales Facility Period until and including the trading day prior to the date of the delisting.

The HSBC Euronext Shares will be delisted from Euronext Paris on December 22, 2020.

Shareholders who do not wish to sell their HSBC Euronext Shares under the Sales Facility or directly on Euronext Paris, or have otherwise taken no action by the Delisting Date, will be able to trade their HSBC Euronext Shares on the LSE, subject to the terms and conditions applied by their financial intermediaries.