Dufry: to delist unit from Brazilian Stock Exchange
(CercleFinance.com) - Swiss travel retailer Dufry said on Tuesday that it plans to delist from the Sao Paulo Stock Exchange.
Dufry has submitted a proposal to discontinue its Brazilian Depositary Receipt program ("BDR"), taking the measures required to cancel its registration with the Brazilian Securities Commission.
Dufry justified its decision by the low liquidity of its BDRs and the need to reduce costs and operational complexities, while also concentrating trading on the SIX Swiss Exchange.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
Dufry has submitted a proposal to discontinue its Brazilian Depositary Receipt program ("BDR"), taking the measures required to cancel its registration with the Brazilian Securities Commission.
Dufry justified its decision by the low liquidity of its BDRs and the need to reduce costs and operational complexities, while also concentrating trading on the SIX Swiss Exchange.
Copyright (c) 2018 CercleFinance.com. All rights reserved.