SECURITIES AND EXCHANGE COMMISSION
Issuer Delisting; Order Granting the Application of Kimberly-Clark Corporation to Withdraw its Common Stock, $1.25 par value, per share, from Listing and Registration on the Pacific Exchange, Inc. File No. 1-00225
July 13, 2005
On May 25, 2005, Kimberly-Clark Corporation, a Delaware corporation ("Issuer"), 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 common stock, $1.25 par value ("Security"), from listing and registration on the Pacific Exchange, Inc. ("PCX"). Notice of such application was published in the Federal Register on June 20, 2005.3 No comments were received. The Commission is granting the application as stated below.
The Board of Directors ("the Board") of the Issuer approved a resolution on April 28, 2005 to withdraw the Security from listing on PCX. The Board stated that the reason it decided to withdraw the Security from PCX is that the benefits of continued listing on PCX do not outweigh the incremental cost of the listing fees and administrative burden associated with listing on the exchange. In addition, the Board stated that it is desirable for the Issuer to remove its Security from PCX listing because the modest volume of trading in the Security on PCX does not justify the expense and administrative time associated with remaining listed on PCX. The Issuer stated that the Security is currently traded on the New York Stock Exchange, Inc. ("NYSE"), the Issuer's principal listing exchange, and on the Chicago Stock Exchange, Inc. ("CHX").
The Issuer stated in its application that it has complied with applicable rules of PCX Rule 5.4(b) by providing PCX with the required documents governing the withdrawal of securities from listing and registration on PCX. The Issuer's application relates solely to the withdrawal of the Securities from listing on PCX and shall not affect its continued listing on CHX and NYSE or its obligation to be registered under Section 12(b) of the Act.4
The Commission, having considered the facts stated in the application and having due regard for the public interest and protection of investors, orders that the application be, and it hereby is, granted, effective at the opening of business on July 14, 2005.
For the Commission, by the Division of Market Regulation, pursuant to delegated authority.5
Jonathan G. Katz
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