Light & Wonder has announced that it is planning to delist from the Nasdaq Stock Market and transition to a sole listing on the Australian Securities Exchange (ASX).
The company made the announcement on Monday, highlighting that the delisting is expected to take effect ‘prior to open of trading on November 13th’.
Suspension of trading will come into effect on November 12th.
Following the delisting, the company will trade on ASX on a sole primary basis from November 14th.
The company notes that the move ‘reflects Light & Wonder’s strategic focus on aligning our capital markets presence with our long-term growth plans and shareholder base’.
The company furthered that it is ‘seeking to consolidate trading liquidity onto the ASX, a deep and liquid market that has a robust understanding of the gaming sector.’
Shareholders of the Nasdaq stocks can either sell before the suspension of trading or convert the shares on the over-the-counter (OTC) market.
Previously when speaking to AGB, Matt Wilson, the company’s CEO, indicated that its 2023 listing on the ASX was to “tap into the investor base here in the Asia Pacific region”, noting the strong uptake in the company’s stocks since its listing on the exchange.
