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TOKYO, July 21 (Xinhua) -- Citigroup Inc. announced Thursday that it has submitted an application for delisting its common stock from the Tokyo Stock Exchange (TSE) due to low trading volume there.
Delisting is expected to come into effect by the end of August 2016, subject to receipt of TSE approval, said the banking group.
Trading volume in Tokyo was "smaller compared to the New York and Mexican stock markets," local media quoted the banking group as saying.
The Citigroup shares have been designated as Securities Under Supervision and will remain so until its delisting, said the TSE Thursday.
Citigroup has been in Japan since 1902. It was first listed on the TSE in 1973 but was delisted in 1998 following its merger with insurance conglomerate Travelers group. It was listed on the TSE again in 2007.
Citigroup is a leading global bank with approximately 200 million customer accounts and business in more than 160 countries and jurisdictions.
