Singtel seeks to delist from Australian stock exchange
SINGAPORE — Singtel is seeking to delist from ASX due to the low trading volume in the Australian market.
SINGAPORE — Singtel today (April 21) announced it has formally requested to delist from the Australian Securities Exchange (ASX), citing the low trading volume in the Australian market as the reason.
"Singtel’s business and operations in Australia will not be affected by the proposed delisting...There will be no change in Singtel’s business strategy as it remains committed to growing and investing in its Australian business," the telco said in a statement.
The delisting would see Singtel remove its listed securities there, in the form of its CHESS Depositary Interests (CDI) securities. If approved, trading in Singtel CDIs is expected to be suspended after the closing of trading on May 29, and will be set for removal from the official ASX list from June 5.
Singtel shares will continue to be listed on the Singapore Exchange (SGX) and trading on the Singapore bourse will continue during and after the ASX delisting process, the telco said.
At 1pm, Singtel share price on the SGX was down by 2.04 per cent, at $4.32, with a total of 19.5 million shares traded.