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Maker of Tata Tea announces net profit of Rs 352 crore
Tata Motors joins growing list of domestic firms to delist ADR programme
Tata Motors on Monday said the voluntary delisting of its American Depositary Shares, representing ordinary shares, from the New York Stock Exchange will become effective close of trading on January 23, 2023. After Monday, there will be no over-the-counter market trading of the American Depositary Shares (ADSs) in the US due to regulatory restrictions under the Indian law, Tata Motors said in a regulatory filing. The ADS holders can surrender their ADSs to the Depositary in exchange for the underlying ordinary shares of the company at any time on or prior to July 24, 2023, it added. Starting on or about July 25, 2023, the Depositary may sell the then remaining ordinary shares held on deposit upon the terms described in the notice of termination of ADS facility as provided for in the deposit agreement, it said. "The above action has no impact on the current listing status or trading of the company's equity shares on the BSE Limited and the National Stock Exchange of India Limited in
The stock had hit a multi-year high of Rs 462.10 on Wednesday, ahead of the board meeting, after it surged 58 per cent in four days
Tata Motors's stock remains listed on the BSE and the National Stock Exchange of India
Chinese e-commerce firm Alibaba said on Monday that it wants to keep its shares listed in both New York and Hong Kong, days after US regulators included it in a list of companies that may be delisted
In a fresh crack down on Chinese companies, the US Securities and Exchange Commission (SEC) has added over 80 firms to its list that is likely to delist them from American exchanges, including China's JD.com, China Petroleum & Chemical Corp, JinkoSolar, Pinduoduo, Bilibili, electric maker NIO Inc and NetEase.
Companies such as quick service restaurant operator Yum China Holdings could be examples of those that the provision would apply to
Sebi has amended rules pertaining to delisting of equity shares of a company following an open offer as part of efforts to make merger and acquisition transactions for listed companies more convenient
Didi, whose apps, in addition to ride-hailing, offer products such as delivery and financial services, remains under investigation
U.S. authorities are moving towards kicking foreign companies off American stock exchanges if their audits fail to meet U.S. standards.
Vedanta had earlier said the decision to delist American depositary shares from the New York Stock Exchange (NYSE) is aimed at simplification and triggered by the low trading volumes in the security
The instruments representing gold will be called Electronic Gold Receipts (EGRs) and will be notified as securities; Sebi board also approves proposal to amend delisting framework after open offer
There are numerous listed companies which have listed subsidiaries engaged in the same line of business, and equity shares of both entities are actively traded on stock exchanges
This comes after the board of Sebi approved several amendments to delisting norms in March to make the process more transparent and efficient
Prabhat Dairy will be delisted from BSE and NSE on April 30, while trading in its equity shares will be discontinued from April 23, the exchanges said
Following open offer, promoter holding in Vedanta is set to rise by 10%. Currently, promoter group holds 55.1%. Had the maximum 651 mn shares been tendered, promoter stake would have risen to 72.6%
Half a dozen companies have already been delisted compulsorily in 2021
The top US securities regulator adopted measures that would kick foreign companies off American stock exchanges if they do not comply with auditing standards