SÃO PAULO - Natura &Co (NYSE: NTCO; B3: NTCO3), the parent company of brands such as Natura and Avon, has announced its decision to withdraw its American Depositary Shares (ADSs) from the New York Stock Exchange (NYSE). The move is part of the company's strategy to streamline operations and focus on its primary market in Brazil.
The company's Board of Directors approved the plan, which responds to the majority of its trading activity being concentrated on the B3 exchange in São Paulo. The declining volume of trades in Natura &Co's ADSs on the NYSE has led to the decision, as maintaining the listing is no longer seen as beneficial.
Trading of the company's ADSs on the NYSE is expected to be suspended around February 9, 2024, following a 10-day period after the Form 25 filing with the U.S. Securities and Exchange Commission. Natura &Co has not made arrangements for the ADRs to be listed or quoted on any other U.S. securities exchange or quotation medium.
Fabio Barbosa, CEO of Natura &Co, emphasized the alignment of this decision with the company's long-term business strategy. He expressed gratitude to the investors of Natura &Co's ADRs and invited them to continue their support through the company's B3 market shares. Barbosa assured that despite the delisting, Natura &Co will maintain its commitment to high disclosure standards.
The information for this article is based on a press release statement from Natura &Co.
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