Optus' parent company Singtel has announced it intends to delist from the ASX.
In a statement issued this morning the company, which is also listed on Singapore's SGX, said it had formally applied to the ASX for delisting.
Trading on SGX will continue during the delisting process, the telco said and Australian operations will not be affected by the process.
"Since its acquisition of Singtel Optus Pty Limited (Optus), Singtel has invested over A$13 billion in building infrastructure and improving communication services in Australia," Singtel's statement said.
"There will be no change in Singtel’s business strategy as it remains committed to growing and investing in its Australian business."
Assuming ASX approval, Singtel trading on the Australian exchange will halt at close of trading on 29 May.
Singtel was listed on the ASX in September 2001. The volume of Singtel shares traded on the on the ASX have declined over the years.
As of the end of March, they represented "approximately 137 million of the 15.94 billion Singtel shares issued, or 0.86% of Singtel’s issued capital."
"Daily trading volumes and liquidity of Singtel CDIs on the ASX are very low," Singtel's statement said.
"During the twelve months to 31 March 2015, the number of Singtel CDIs traded on the ASX accounted for only 6% of all Singtel shares traded. This reflects institutional investors’ preference to hold and trade Singtel shares on its home exchange, the SGX. With little demand to drive liquidity in its CDIs, Singtel's weighting in the S&P/ASX200 index has been reduced to approximately 0.03% as at 31 March 2015."
Shareholders will have the option of selling their shares or converting them to Singtel shares.
Optus is holding a media call later this morning on the move.