News published on 25/04/23 09:16
(CercleFinance.com) – On the sidelines of the publication of its quarterly reports, ABB announces that it plans to withdraw its American Depositary Receipts (ADR) from the New York Stock Exchange (NYSE) and, ultimately, to request the delisting of its ADRs and shares underlying this place.
As part of this, it intends to convert its current sponsored Level II ADR program to a sponsored Level I ADR program, which would give US investors a continuous investment option, in addition to ABB ordinary stock.
The engineering group, which is also listed in Zurich and Stockholm, explains that it no longer sees the need to be listed on three places, as investors’ access to international stock markets has “changed considerably in recent times”.
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2023-04-25 07:16:00
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