Fonterra to delist from ASX next month
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The news: New Zealand dairy giant Fonterra is set to delist from the ASX next month after receiving the nod from the bourse operator.
The numbers: Fonterra’s ASX-listed shares will be suspended after close of trading on 25 February. It will continue to be listed on the New Zealand Stock Exchange.
The context: The dual-listed dairy co-operative had announced in November its intention to delist from the ASX, as part of efforts to reduce costs and complexity.
What they said: “Consolidating FSF’s listing on one exchange would be beneficial to liquidity in FSF’s units, reduce compliance and administrative costs associated with maintaining dual listing … and the majority of FSF’s unitholders are based in New Zealand,” it said on Wednesday.
The source: ASX announcement
