Future Mobility Sulutions (FMS), which owns amphibious boat maker Sealegs, has applied delist its shares from the NZX.
FMS said it had previously considered a delisting from NZX in 2017.
"The board has continued to review its position and it believes that the costs of maintaining an NZSX listing far outweigh the residual benefits of maintaining a listing," it said.
FMS said it had recently submitted an application to delist from the NZX.
"Whilst FMS is still in discussions with NZX, the intention is that shareholders will be asked to vote on the delisting at the upcoming AGM and FMS will seek to list on the Unlisted Securities Exchange as soon as possible following the AGM," it said in a statement.