RIYADH: Major US stock exchanges delisted 179 companies between 2020 and 2021, according to a report carried by Finbold.com.

Citing data the report said in 2021, the number of companies on Nasdaq and the New York Stock Exchange stands at 6,000, dropping 2.89 per cent from last year’s figure of 6,179. In 2019, the listed companies stood at 5,454.

“NYSE recorded the highest delisting with companies on the platform, dropping 15.28 per cent year-over-year from 2,873 to 2,434. Elsewhere, Nasdaq listed companies grew 7.86 per cent from 3,306 to 3,566,” it added.

As of 2021, it said, Nasdaq had 2,819 listed domestic companies, while foreign entities stood at 747. NYSE accounts for 1,848 domestic companies, with the foreign entities standing at 586.

The report attributed the delisting to the emergence of alternative markets.

“Furthermore, the delisting on US major exchanges might be due to the emergence of new alternative markets, especially in Asia. China and Hong Kong markets have become more appealing, with regulators making local listings more attractive. Over the years, exchanges in the region have strived to emerge as key players amid dominance by US equity markets.”

It; however, said the number of foreign companies listing on US exchanges also surged.

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