Kofax Pulls Back From London Stock Exchange

Irvine-based software developer Kofax said this morning that it has applied to delist its shares from the London Stock Exchnge. the company--which is listed on the NASDAQ Global Select Market--said it is seeking to reduce its ongoing costs and administration by dropping its listing in London. Kofax said that currently, 75 percent of its shares are held by U.S. shareholders, and that the majority of its trading is done on the NASDAQ. Kofax said it will save at least $750,000 in annual costs by dropping its listing in London. Kofax had originally been traded in London prior to its IPO on the NASDAQ in 2013. Kofax develops software used for document scanning, processing, and handling.