NYSE To Begin Delisting Proceedings Against Farfetch
Portfolio Pulse from Benzinga Newsdesk
The NYSE is starting delisting proceedings against Farfetch due to its subsidiary's bridge financing agreements and asset disposal plans, which led to the resignation of all independent board members.
December 19, 2023 | 9:43 pm
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Farfetch faces delisting from the NYSE following its subsidiary's bridge financing and asset disposal agreements, resulting in the resignation of its independent board members.
The initiation of delisting proceedings by the NYSE is a significant negative event for Farfetch, indicating severe financial distress and governance issues. The resignation of all independent board members further exacerbates the situation, likely leading to a loss of investor confidence and a negative impact on the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 100
RELEVANCE 100