Transocean delisting from Swiss SIX Exchange

Transocean Ltd., one of the world’s largest offshore drilling contractors, is looking to delist from the Swiss SIX Exchange.

The company, based in Zug, Switzerland, informed of the plan on Monday, adding that it would remain incorporated in Switzerland.

“The company expects the SIX listing authorities to approve its delisting application prior to year-end and the related delisting to occur in the first quarter of 2016,” Transocean said.

The offshore driller’s shares will continue to be listed and traded on the New York Stock Exchange (NYSE). Transocean did not provide the rationale for Switzerland delisting in its statement on Monday.