3 Sep 2011

Cavotec to switch to Swedish listing

8:00 am on 3 September 2011

Shareholders in the global engineering and design company Cavotec have approved plans to switch its listing from the NZX to Sweden's Nasdaq OMX.

About 93% of shareholders voted in favour of the restructure at a special meeting in Christchurch on Thursday.

Cavotec says the move will give it a better chance of raising capital.

Shares in the company will be halted from trading on 27 September and delisted from the NZX on 3 October.

Assuming the necessary approvals are achieved, shares will begin trading on the Nasdaq OMX in Stockholm on 19 October.