Defense Contractor Leonardo DRS Voluntarily Delists From Israel Stock Exchange
Portfolio Pulse from Shivani Kumaresan
Defense contractor Leonardo DRS Inc (NASDAQ:DRS) has announced its decision to voluntarily delist its common stock from the Tel Aviv Stock Exchange (TASE). The delisting is expected to take effect three months after the company's request on September 27, 2023. The company's shares will continue to be traded on the TASE during the interim period and will be transferred to the Nasdaq after delisting. The company's listing on Nasdaq will not be affected.
September 27, 2023 | 3:32 pm
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POSITIVE IMPACT
Leonardo DRS Inc's decision to delist from the TASE and concentrate its market activity on Nasdaq could potentially streamline its operations and attract more investors. The news has already resulted in a 2.38% increase in the company's share price.
The decision to delist from the TASE and focus on Nasdaq could be seen as a positive move by investors, as it could potentially simplify the company's operations and make it more attractive to investors who prefer to trade on Nasdaq. This is reflected in the 2.38% increase in the company's share price following the announcement.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100