[Last updated: 1 January 2025, unless otherwise noted]

A delisting of the shares requires a two-thirds majority at the shareholders' meeting.

The delisting procedure is initiated by filing an application with the relevant stock exchange at least 20 trading days prior to the announcement of the delisting. The time from the announcement of the delisting and the last trading day is fixed by the relevant exchange and is between three and 12 months. If the announcement of the intention to delist the target company is made in the offer prospectus, the term between the official announcement of the delisting and the effective delisting is usually shortened to five trading days.