IDEX Biometrics Announces Effectiveness Of Voluntary Delisting Of ADSs From Nasdaq Capital Market
Portfolio Pulse from Happy Mohamed
IDEX Biometrics ASA (NASDAQ:IDBA) has voluntarily delisted its American Depositary Shares (ADSs) from The Nasdaq Capital Market. The company has also filed a Form 15 with the SEC to suspend its reporting obligations under the Securities Exchange Act of 1934. The deregistration of the ADSs under the Exchange Act is expected to become effective 90 days after the filing. The listing of IDEX Biometrics ordinary shares on the Euronext Oslo Børs remains unchanged.
August 11, 2023 | 1:59 pm
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IDEX Biometrics has delisted its ADSs from Nasdaq and suspended its reporting obligations with the SEC. This could potentially reduce the liquidity and visibility of the company's shares in the US market.
Delisting from a major exchange like Nasdaq can reduce a company's visibility and the liquidity of its shares, as it may become harder for investors to buy or sell the shares. This could potentially lead to a decrease in the share price in the short term.
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