Almonty Industries to delist from ASX in September
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- Almonty Industries will voluntarily delist its CHESS depositary interests from the ASX on Sept. 1.
- Trading in ASX CDIs will be suspended at close of trade on Aug. 28.
- The business is streamlining operations to focus trading on the Nasdaq due to low Australian trading volumes.
Almonty Industries (ASX:AII) has secured approval to voluntarily delist from the ASX on Sept. 1.
The decision comes as Australian holdings dropped to just 0.80% of total issued shares.
CDI holders can convert their interests into shares or sell them on the market until Aug. 28.
The company stated that high administrative costs and low liquidity no longer justify keeping the secondary listing.
Following the announcement, the Almonty Industries share price was down at $20.68.
The miner operates tungsten assets, including its flagship Sangdong Mine development in South Korea.
This move follows the company's recent decision to delist from the Toronto Stock Exchange on July 31.
