August 21 2018  |  Retailers

Dufry takes steps to delist in Brazil

By Mary Jane Pittilla

Dufry plans to delist the company from the Brazilian Stock Exchange to focus on the SIX Swiss Exchange.

The operator has submitted a proposal to discontinue its Brazilian Depositary Receipts (BDRs) program to the Brazilian Stock Exchange (B3 S.A. – Brasil, Bolsa, Balcão).

Upon termination of the BDR Program, Dufry will cancel its registration with the Brazilian Securities Commission, as well as its listing with B3.

Dufry’s decision to terminate the BDR Program and to cancel Dufry’s registration as a foreign issuer in Brazil took into consideration the low liquidity of Dufry’s BDRs and aims at reducing costs and operational complexities, and concentrating the trading of Dufry’s securities on the SIX Swiss Exchange.

Dufry said it would keep the market informed of material developments concerning the termination of its BDR Program and its delisting from B3.

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