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Samsung Electronics workplace in southerly Seoul (Newsis) |
Samsung Electronics’ depositary invoices detailed in Luxembourg Stock Exchange are to move to the London Stock Exchange, according to the business’s declaring on Friday.
A depositary invoice is a monetary protection that enables capitalists to possess shares in an international business without trading on an international market.
The choice encountered the technology titan’s board of supervisors’ choice to delist the DRs from Luxembourg, the declaring revealed.
Based on Samsung Electronics’ recommended shares, the shares to be delisted total up to some 38.6 million DRs. The business prepares to make an application for delisting onNov 6.
The DRs presently detailed in Luxembourg will certainly be moved to the London Stock Exchange on March 31 following year.
“We initially listed DRs on the Luxembourg Stock Exchange in 1991 to facilitate trading for overseas investors, but due to low trading volume, we have decided to proceed with delisting,” a Samsung Electronics authorities stated.
By Jie Ye- eun (yeeun@heraldcorp.com)
