Warehouse to delist from ASX, cites high costs
Warehouse Group, the biggest retailer on the NZX 50 Index, will delist from the Australian stock exchange after high costs forced it to review its dual listing.
BUSINESSDESK: Warehouse Group, the biggest retailer on the NZX 50 Index, will delist from the Australian stock exchange after high costs forced it to review its dual listing.
“The board considered a number of factors in reaching its decision to delist from ASX, including the level of liquidity in trading of the company’s shares on the ASX and the additional listing, compliance and administration costs associated with maintaining a duel listing of the company’s shares on both NZX and ASX,” the company said in a statement.
If the retailer complies with the conditions set out by the ASX it will be removed from the exchange on July 1.
Warehouse shareholders who wish to retain their shares will be transferred to the New Zealand bourse.
The retailer’s shares finished the day on the NZX at $2.79 apiece.
Hannah Lynch
Fri, 30 Mar 2012
Fri, 30 Mar 2012
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Warehouse to delist from ASX, cites high costs
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