Orange To Delist From NYSE To Reduce Financial Burdens
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Orange (NYSE:ORAN) shares are trading lower on Wednesday.
The company disclosed its plan to voluntarily delist its American Depositary Shares (ADRs) from the New York Stock Exchange (NYSE) and deregister with the U.S. Securities and Exchange Commission (SEC).
Orange’s decision to delist from the NYSE and deregister from the SEC was made to reduce financial and administrative burdens, in line with its goal of streamlining operations while maintaining strong governance and transparency.
The move will not impact its U.S. clients, partners, or commercial presence, and Orange remains committed to open communication with U.S. investors.
Orange plans to file a Form 25 with the SEC in the fourth quarter of 2024 to begin the delisting process.
The delisting will take effect ten days after the filing, at which point Orange’s ADSs will no longer trade on the NYSE.
After the delisting, Orange plans to continue its ADR program, enabling investors to keep their ADRs and trade them on the U.S. Over-The-Counter (OTC) market.
This month, Orange Business, leveraging its local expertise and service center, partnered with ACUD’s data center to provide co-location.
The company will announce the successful completion of the first phase of a new data center and communications infrastructure for Grifols Egypt.
Investors can gain exposure to the stock via Defiance Quantum ETF (NASDAQ:QTUM).
Price Action: ORAN shares are down 0.89% at $11.97 at the last check Wednesday.
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This article Orange To Delist From NYSE To Reduce Financial Burdens originally appeared on Benzinga.com
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