BT to scrap US market listing

Writer, Stock Market Wire
Wednesday, August 14, 2019 - 13:04

Telecom company BT Group said it would delist its US shares to reduce operating costs and complexity.

The company said it expected a delisting of its American depositary shares to become effective on 13 September.

It also planned to make a request to the Securities and Exchange Commission to deregister its equity securities at the earliest possible date.

Deregistration was expected to become effective 90 days after the filing of the relevant form. 'BT's decision to delist and deregister is aimed at reducing reporting costs and complexity whilst maintaining the highest standards of corporate governance and transparent financial reporting,' BT sid.

The ADR programme comprises about 2% of its shares in issue, while investors based in North America hold about 20% of its shares in issue.

At 1:04pm: (LON:BT.A) BT Group PLC share price was -3.91p at 168.27p


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