The only company in Austria to boast a full US listing has converted to a level one American depositary receipt (ADR) listing
When Telekom Austria IPO-ed simultaneously on the Vienna Stock Exchange and the NYSE in 2000, it was commonplace for European telecom firms to have dual listings. Now the only company in Austria to boast a full US listing has converted to a level one American depositary receipt (ADR) listing.
An obvious question to start with – why de-list from the NYSE?
When the SEC changed its rules in the spring, it became easier for companies to deregister because they no longer had to continue
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