We analyse the motives and market valuation of various forms of stock market delisting. We show that firms that delist voluntarily are likely to have come to the market to rebalance their leverage rather than to finance their growth opportunities. During their public life, their leverage...

We analyze the motives and market valuation of voluntarily de-listing from the London Stock Exchange. We show that firms that de-list voluntarily are likely to have come to the market to re-balance their leverage rather than to finance their growth opportunities. During their quotation life,...