Wolseley to trade on international OTC exchange

Industrial Distribution staff -- Industrial Distribution, 4/3/2008 8:09:00 AM

Wolseley plc will list its American Depositary Receipt (ADR) shares on the International OTCQX, an over-the-counter stock exchange.

The British building materials distributor pulled its shares from the New York Stock Exchange late last year, citing the expense of meeting federal Securities and Exchange Commission regulations. The company, which also trades on the London Stock Exchange, said it could save as much as $8.2 million annually with the move.

Wolseley ranked first on INDUSTRIAL DISTRIBUTION’s 2007 Big 50 list of distributors, with 2006 sales of $25.3 billion.

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