5E Advanced Metals Gains Approval for Voluntarily Australian Delisting

MT Newswires Live
8 hours ago

5E Advanced Metals (ASX:5EA) has received approval from the Australian Securities Exchange for a voluntary delisting, according to a Friday filing with the bourse.

The company expects the delisting to occur on May 28 and its CHESS depositary interests, or CDIs, to cease trading from the close of market on May 26.

It will remain listed in the US on the Nasdaq Global Select Market under the ticker symbol "FEAM."

5E Advanced Metals said that as of Feb. 27, only about 4.2% of its common shares were represented by CDIs, and the trading volume of its CDIs on the Australian exchange has also declined compared with the activity on Nasdaq.

The company believes that the obligations and costs of maintaining an Australian listing are no longer in its best interests.

Shares of 5E Advanced Metals were down nearly 22% in recent Friday trade.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Most Discussed

  1. 1
     
     
     
     
  2. 2
     
     
     
     
  3. 3
     
     
     
     
  4. 4
     
     
     
     
  5. 5
     
     
     
     
  6. 6
     
     
     
     
  7. 7
     
     
     
     
  8. 8
     
     
     
     
  9. 9
     
     
     
     
  10. 10