[Federal Register Volume 68, Number 64 (Thursday, April 3, 2003)]
[Notices]
[Page 16314]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 03-8031]


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SECURITIES AND EXCHANGE COMMISSION


Issuer Delisting; Notice of Application of Landesbank Baden-
W[uuml]rttemberg to Withdraw its 7 7/8% Subordinated Notes (Due April 
15, 2004), From Listing and Registration on the New York Stock 
Exchange, Inc. File No. 1-10836

March 28, 2003.
    Landesbank Baden-W[uuml]rttemberg, a German bank (``Issuer''), has 
filed an application with the Securities and Exchange Commission 
(``Commission''), pursuant to section 12(d) of the Securities Exchange 
Act of 1934 (``Act'')\1\ and rule 12d2-2(d) thereunder,\2\ to withdraw 
its 7 7/8% Subordinated Notes (due April 15, 2004)(``Security''), from 
listing and registration on the New York Stock Exchange, Inc. (``NYSE'' 
or ``Exchange'').
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    \1\ 15 U.S.C. 78l(d).
    \2\ 17 CFR 240.12d2-2(d).
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    The Board of Managing Directors of the Issuer (``Board'') approved 
a resolution on September 24, 2002 to withdraw the Issuer's Security 
from listing on the NYSE. In making its decision to withdraw the 
Security from the Exchange, the Issuer states the following: On 
September 25, 2002, 85.69% of the outstanding amount of the Security 
was held by 60 note holders who are institutional investors and the 
volume of trading in the Security is very small. According to the NYSE, 
in the period from January 1, 2001 to September 25, 2002, the Security 
was not traded once on the NYSE. In addition, according to Bloomberg 
professional, in the period from September 2, 2001 to September 25, 
2002, the Security was traded seven times in the secondary market. The 
Issuer also states that substantial costs incurred each year for the 
preparation of reporting forms can be avoided.
    The Issuer stated in its application that it has complied with the 
NYSE's rules governing an issuer's voluntary withdrawal of a security 
from listing and registration. The Issuer's application relates solely 
to the Security's withdrawal from listing on the NYSE and from 
registration under section 12(b) of the Act \3\ and shall not affect 
its obligation to be registered under section 12(g) of the Act.\4\
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    \3\ 15 U.S.C. 78l(b).
    \4\ 15 U.S.C. 78l(g).
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    Any interested person may, on or before April 21, 2003, submit by 
letter to the Secretary of the Securities and Exchange Commission, 450 
Fifth Street, NW., Washington, DC 20549-0609, facts bearing upon 
whether the application has been made in accordance with the rules of 
the NYSE and what terms, if any, should be imposed by the Commission 
for the protection of investors. The Commission, based on the 
information submitted to it, will issue an order granting the 
application after the date mentioned above, unless the Commission 
determines to order a hearing on the matter.

    For the Commission, by the Division of Market Regulation, 
pursuant to delegated authority. \5\
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    \5\ 17 CFR 200.30-3(a)(1).
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Jonathan G. Katz,
Secretary.
[FR Doc. 03-8031 Filed 4-2-03; 8:45 am]
BILLING CODE 8010-01-P