The French telecommunications giant tries to reassure customers and partners about this step which is only aimed at “improving the internal workings” of the company.
Thunderclap on the New York Stock Exchange. The French telecommunications giant Orange announced on Wednesday that it plans to withdraw from the New York Stock Exchange (NYSE), a decision made by the board of directors the previous day to “simple” and“efficiency”.
Orange pulls it back «American Depositary Shares (ADS)» of NYSE listing and “Deregistration with the US Securities and Exchange Commission (SEC)”the American stock market police, specifies a press release. ADSs are securities reserved for US shareholders that correspond to the ownership of one common share. Orange has that “expected to file with the SEC in the fourth quarter of 2024”adding to the group. “The delisting will be effective ten days after this filing and, from that moment, Orange ADSs will no longer be traded on the NYSE.”.
After that, Orange will hold «American Depositary Receipt (ADR) son program»ADRs are securities that allow large foreign entities to be listed on American markets. That “This will allow investors to hold their ADRs and facilitate their trading on the over-the-counter (OTC) market in the United States”according to the press release. This decision “It should have no impact on Orange’s customers and partners or its commercial presence in the United States”ensures the group. She participates “to simplify Orange’s internal operations and efficiency, while maintaining the highest standards of corporate governance and transparency in financial reporting. “he says.
2024-09-25 08:09:13
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