ABB (Swedish-Swiss Engineering Group) is buying back shares in ABB AB (one of it's parent companies). This is a step to simplify shareholder ownership of this company by replacing the four different ABB shares types (each with different voting rights) with one share type. This may be a move to interest more US institutional investors and perhaps (someday) to achieve listing on the NYSE.
I thing that, if this company was more accessible to US investors, it would demand a high capitalization than GE.
ABB can be purchased in the US through the American Depository Receipt (ADR): ABBBY. Currently, I own no ABBBY but am considering it. |
