TAIPEI: Acer Incorporated announced Tuesday it will delist its global depositary receipts (GDRs) from the London Stock Exchange (LSE) next month, citing low trading volume and cost efficiency.
The decision follows a board meeting on March 13, where directors approved the move as part of a broader simplification effort across multiple jurisdictions. The company noted that maintaining the GDR program was no longer justified given its limited market activity.
Acer formally requested the delisting from the U.K. Financial Conduct Authority (FCA) and the LSE on Wednesday. The GDRs, traded under ISIN codes US0044342055 and US0044341065, will cease trading on July 15, with the delisting taking effect at 8 a.m. London time on July 16.
Under U.K. listing rules, the company was required to provide at least 20 business days’ notice. After the delisting, the GDRs will no longer be tradable on the LSE.
As of June 13, Acer had 481,445 Regulation S GDRs and 1,067 Rule 144A GDRs outstanding, representing 2,407,225 and 5,335 ordinary shares, respectively.
The GDRs were listed on the LSE’s Professional Securities Market. Acer did not announce any immediate plans for relisting the securities elsewhere.