Shares of Unibail-Rodamco-Westfield (ASX:URW) edged lower in Friday morning trade after the company said in a late Thursday Australian bourse filing that it received formal approval from the Australian Securities Exchange (ASX) to be removed from the official list of ASX entities.
The company's CHESS Depositary Interests (CDIs) now represent only around 3.1% of total shares, down from around 24% at listing, the filing said.
As the CDI's trade with lower volume and liquidity compared to European markets, the company considers the ASX listing no longer in the best interests of shareholders, the filing added.
The delisting is subject to certain conditions and is expected to occur on Aug. 27, the company said.
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