Swedish truck maker Volvo plans to delist from the Nasdaq stock exchange and deregister shares from the U.S. Securities and Exchange commission, the company said on Thursday.

The company attributed the withdrawal to the fall of trading in its American Depositary Receipts (ADRs).

Trading in ADRs accounts for less than 3 percent of total trading in the Volvo Class B share, which is not proportionate with the costs for maintaining the listing, the company said.

The delisting process is set to finish at the end of 2007. Thereafter, all trading of the company's shares would be concentrated on the Stockholm Stock Exchange.

Volvo has previously delisted from bourses in Tokyo, London, Paris, Brussels, Oslo, Helsinki, as well as in Germany and Switzerland, the company added.

Volvo started trading on Nasdaq in 1985 to bolster international ownership in the company.

Source: Xinhua