Stocks

HDFC Bank terminates, de-lists GDRs from Luxembourg Stock Exchange

PTI New Delhi | Updated on July 16, 2019

Cites low trading volume.as reason

Private sector lender HDFC Bank on Tuesday said it has terminated and de-listed its global depository receipts (GDRs) from the Luxembourg Stock Exchange due to low trading volume.

”....Subsequent to July 15, 2019, the listing and admission to trading of the GDRs on the Luxembourg Stock Exchange will be cancelled,” HDFC Bank said in a regulatory filing.

Earlier in April, the bank had informed that in view of the minimal number of GDRs outstanding and the low trading volume of the GDRs, its board has approved the proposal for termination of the GDR program and de-listing of 22 GDRs, which are outstanding and listed on the Luxembourg Stock Exchange.

 

Published on July 16, 2019

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