STUTTGART, Germany — Citing a series of reasons late last week, the supervisory board of Daimler AG revealed its decision to apply for discontinuation of share listing on the New York Stock Exchange.

Daimler executives also indicated that their letter will serve as notice for discontinuing the listing of 8.50 percent notes due Jan. 18, 2031 of Daimler Finance North America and the related Daimler guarantee.

Furthermore, the company plans to submit a request for delisting to the Securities and Exchange Commission.

After the delisting has become effective, Daimler said it plans to apply to the SEC for deregistration of all its securities registered with the SEC and termination of its reporting obligations under the U.S. Securities Exchange Act of 1934.

Executives explained the main reason for discontinuing the NYSE listing and registration with the SEC is a significant change in the behavior of international investors. They indicated that these investors now primarily trade in Daimler shares in Germany and through electronic trading platforms.

Daimler insisted its trading volumes in the United States have been consistently low. During a recent 12-month period, the company said the figure amounted to an average of well below 5 percent of its worldwide trading volume.

"Daimler continues to place great importance on having an international shareholder base," noted Bodo Uebber, chief financial officer of Daimler AG.

"The trading center for our shares, however, clearly is Frankfurt — and that is also the case for our international investors," Uebber continued.

Executives shared other reasons for their decision. They mentioned the reduction in complexity of financial reporting as well as administrative expenses and fees. They pointed out the delisting is also the final step in Daimler's efforts to reduce its number of stock-exchange listings.

"This step will enhance our overall efficiency," Uebber stated.

The company also noted Daimler plans to apply for delisting and deregistration in the near future.

"Independently of the delisting and deregistration, Daimler will maintain a high degree of transparency in its financial reporting and will continue to fulfill the requirements of international investors," Uebber explained.

Daimler reiterated its position as having a strong presence in North America with intentions to strengthen its market share and business operations further.

Executives recounted that last year, the region accounted for 25 percent of the company's worldwide revenue and that nearly 10 percent of the workforce is stationed in North America.

"The American sales market and our activities in North America remain as important as ever for Daimler," Uebber declared.

"We remain in direct, close and open dialogue with our American investors, and our investor relations team and I will continue to be present on a regular basis in the U.S.," he stressed.

Daimler pointed out that it reserves the right to submit the aforementioned applications at a later date or not submit them at all or to change its plans in other ways.

Executives also emphasized that Daimler and Daimler Finance North America have not arranged for the listing of the aforementioned securities on another U.S. securities exchange or for the quotation of such securities in a quotation medium in the United States.