NanoDynamics delists from Dubai stock exchange

Shares in US clean technology company NanoDynamics have delisted from the Dubai International Financial Exchange (DIFX), just a day after they made their debut.

The delisting was voluntary. The company said the reason for this was "significant changes to the placing agreement as described in the company's final prospectus" compared to its listing application. However, no further details have been revealed.

Shares in the company, which was the first US entity to trade shares on the bourse, were listed on 14 February but then delisted just a day later.

NanoDynamics shares are the first equity to delist and the third security to delist from the bourse. It follows the delisting of global depository receipts of India's Rana Sugars in early February and Lebanon's Investcom in August 2006.

NanoDynamics plans to refund the money received from investors and cancel the issued shares.