Laybuy Group to de-list from ASX as share price tanks
New Zealand buy-now, pay-later company Laybuy Group is set to voluntarily de-list from the Australian stock exchange (ASX) after two years.
In a statement filed with the ASX, the company said the delisting is considered to be in the “best interests” of the company and its shareholders for a number of reasons.
The low trading price of the company’s shares, relatively low levels of trading liquidity and a number of flow-on consequences as well as costs and administrative burden of remaining listed on the ASX were cited as reasons behind the decision.
The company says the delisting will be put forward for shareholder approval at a special meeting on or around February 22.
The company’s shares were first listed for $2.30 per share, however, have since slumped to just 4 cents.
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