Coles Myers to desert NZX

Australian retail giant Coles Myer has decided to delist its shares from the New Zealand exchange from November 25.

"This decision has been made because in recent years there has been very little trading in the company's shares on NZX," company secretary Tim Hammon said.

He said New Zealand shareholders should not be detrimentally affected.

"Your Coles Myer shares will continue to be traded on the Australian Stock Exchange (ASX). Your stockbroker should be able to access the ASX if you wish to buy or sell Coles Myer shares."

The company remained committed to New Zealand through its 13 Kmart stores, "and continues to look for opportunities to expand its network further", Mr Hammon said.

Coles shares were untraded at 1pm today, shortly after the notice was issued.

- NZPA