Delisting
The removal of a stock from an exchange, after which it can no longer be traded there.
In short
As of 8 October 2026A delisting is the removal of a stock from an exchange, often after a takeover or insolvency, after which it can no longer be traded there. In Germany, a company leaving the regulated market must first make a purchase offer to shareholders, at least at the average price of the last six months. Shareholders who do not sell keep their shares.
In a delisting, a stock disappears from the stock exchange. Reasons include a takeover where the buyer holds almost all shares, an insolvency, or a wish to escape the costs and duties of a listing. It is the opposite of an IPO.
Shareholders are protected: if a company leaves the regulated market in Germany, it must first make a purchase offer to shareholders, at least at the average price of the last six months (§ 39 BörsG). Those who do not sell remain shareholders but can hardly trade anymore. For penny stocks after a bankruptcy, the offer is often close to worthless.
Example: a private equity investor takes over 90 % of a company and applies for delisting. Anyone who rejects the offer then holds a share that barely trades. More about listings in the IPO topic.
Related terms
Sources
As of 8 October 2026 · Educational content, not investment or tax advice.