Helkon Media is seeking to leave the Neuer Markt by the end of the month as part of a programme of cost reduction and reorganisation. If the Deutsche Boerse approves its shares will be traded on the third tier Geregelter Markt from July 1.

'This section change will lead to considerable cost savings due to the substantially lower costs charged on the Geregelter Markt compared with those charged on the Neuer Markt,', said the Munich-based rights trader in a statement.

This move comes after Helkon co-founder and chief executive Martin Heldmann last month decided to step down from the company's management board (Screen Daily, May 30, 2002).