Signet Jewelers Cites 'Monetary Expense, Regulatory Burdens' In Delisting Its Stock From The London Exchange

Shares of Signet Jewelers Ltd. (NYSE: SIG) surged higher by more than 5 percent on Tuesday after the company announced that it has filed a voluntary application with United Kingdom regulators to delist its common stock from the London Stock Exchange (LSE) as of March 11, 2016.

Signet Jewelers noted that less than 1 percent of its annual trading volume takes place on the London Exchange. As a result, the company noted that the benefit of the listing is "outweighed by the monetary expense, regulatory burdens, and time spend on LSE-driven activity."

Signet Jewelers'New York Stock Exchange listed shares will continue trading as normal.