Sky Delists From New York Stock Exchange

The satellite broadcaster tells me it has delisted from the NYSE to save money. Less than 2% of its shares are traded in New York, yet it costs between $5-10 million annually to comply with NYSE regulations. Instead, BSKyB will now list its shares on the much smaller OTCQX exchange.

BSkyB will join other European companies including BASF, Allianz and Imperial Tobacco that have listed on the OTCQX. In total, only 112 companies belong to the OTCQX. All of the European companies that have made the jump say it’s just not worth the compliance costs, given the small percentage of shares traded in the US.