Infineon voluntary delists from New York Stock Exchange
Neubiberg, Germany – April 03, 2009 – Infineon Technologies AG today announced that it has applied to voluntarily delist its American Depositary Shares (“ADSs”) from the New York Stock Exchange (“NYSE”). The Company expects that the delisting will take effect on April 24, 2009, and that as of that date, the ADSs will no longer be traded on the NYSE. Infineon intends to file for deregistration and termination of its reporting obligations under the Securities Exchange Act of 1934 (the “Exchange Act”) as soon as possible following the first anniversary of the delisting.
The Frankfurt Stock Exchange represents Infineon’s principal trading market, with trading on the NYSE accounting for a relatively low percentage of trading of its ADSs and ordinary shares on a worldwide basis. Infineon has therefore weighed the benefits of listing on the NYSE against the associated costs and reached the decision that continuing the listing of the ADSs is no longer commercially justifiable.
Infineon will maintain its ADS facility as a “Level I” program and pursue a listing of its ADSs on the over-the-counter market OTCQX. Infineon’s ordinary shares will continue to be traded on the Frankfurt Stock Exchange, and the Company will continue to comply with the rigorous German disclosure and transparency requirements. Infineon will continue to publish its financial reports, press releases and other information in English for investors on its website.
After delisting and until deregistration is effective, Infineon will comply with its reporting obligations under the Exchange Act. After deregistration, Infineon will continue to maintain the level of disclosure expected by the international financial markets.
Infineon Technologies AG, Neubiberg, Germany, offers semiconductor and system solutions addressing three central challenges to modern society: energy efficiency, communications, and security. In the 2008 fiscal year (ending September), the company reported sales of Euro 4.3 billion with approximately 29,100 employees worldwide. With a global presence, Infineon operates through its subsidiaries in the U.S. from Milpitas, CA, in the Asia-Pacific region from Singapore, and in Japan from Tokyo. Infineon is listed on the Frankfurt Stock Exchange and on the New York Stock Exchange (ticker symbol: IFX).