Constellation Brands to dump Aussie stock listing

VICTOR, N.Y.

Wine maker Constellation Brands Inc. said Monday that it plans to delist its stock from the Australian Securities Exchange before next spring.

The decision won't affect the trading of Constellation's shares on the New York Stock Exchange.

Constellation, whose more than 100 wine brands include Robert Mondavi, concluded it no longer makes sense to keep its stock listed on the Australia's exchange because the shares are so thinly traded there.

The delisting is expected to be complete by the end of February.

Constellation shares edged up two cents Monday to close at $16.68 on the New York Stock Exchange.