Samsung Electronics workplace in southern Seoul (Newsis)
Samsung Electronics’ depositary receipts listed in Luxembourg Inventory Trade are to switch to the London Inventory Trade, based on the corporate’s submitting on Friday.
A depositary receipt is a monetary safety that permits traders to personal shares in a overseas firm with out buying and selling on a overseas market.
The choice stumbled on the tech large’s board of administrators’ choice to delist the DRs from Luxembourg, the submitting confirmed.
Based mostly on Samsung Electronics’ most popular shares, the shares to be delisted quantity to some 38.6 million DRs. The corporate plans to use for delisting on Nov. 6.
The DRs at the moment listed in Luxembourg will likely be transferred to the London Inventory Trade on March 31 subsequent yr.
“We initially listed DRs on the Luxembourg Inventory Trade in 1991 to facilitate buying and selling for abroad traders, however attributable to low buying and selling quantity, now we have determined to proceed with delisting,” a Samsung Electronics official stated.
