Latest news with #delisting
Irish Times
18 hours ago
- Business
- Irish Times
Datalex exit leaves Irish stock market hurtling towards just 20 stocks
The Iseq 20 was launched two decades ago to showcase the largest of then 65 companies listed on the Irish stock market . News on Wednesday that Datalex , a retail software provider to airlines, is delisting next month leaves the entire market hurtling towards just 20 stocks. After a wave of exits over the past decade and dearth of initial public offerings (IPOs), there are only 25 listed companies on the exchange, known as Euronext Dublin. Dalata Hotel Group agreed earlier this month to be bought by a Scandinavian consortium for €1.4 billion. UK-based Aquila European Renewables, which took out a dual listing in Dublin two years ago in a failed effort to boost trading in its shares, is in wind-down, as is Malin Corporation, the life sciences investment firm that floated 10 years ago, and Donegal Investment Group. Defections by the likes of DCC, Greencore and Grafton Group from the Dublin market have been followed in recent years by three heavyweights – CRH, Flutter Entertainment and Smurfit Westrock (formerly Smurfit Kappa) – ditching their Irish quotations in favour of primary listings in New York. Private equity cash has swallowed up others, including Applegreen and Hibernia Reit. Titanium minerals miner Kenmare Resources last month told its former managing director, Michael Carvill, and an Abu Dhabi fund that had been circling it to take a hike. But might they come back? The only two Irish IPO companies this decade – HealthBeacon and Corre Energy – are no longer on the market. HealthBeacon, a medical tech company, succumbed to examinership in late 2023 and was rescued by a US company, while Corre, a developer of storage solutions for renewable energy, delisted earlier this year. There was something of an inevitability about Datalex waving the white flag after 25 years on the market. Its main shareholder, Dermot Desmond , has seen his stake rise from 29 per cent to almost 50 per cent in a little over three years – as he participated in two separate equity raises from the company, primarily to repay expensive rescue loans from the billionaire himself. Two other investors, Nick Furlong's Pageant Investments and former Glen Dimplex chief executive Sean O'Driscoll, own a further 20 per cent between them. There appears to be little appetite outside this group for another equity raise as Datalex seeks to raise €6 million to fund growth. It's now resorting to a debt-raise instead.
Zawya
2 days ago
- Business
- Zawya
Egypt: Orascom Construction to transfer primary listing to ADX
Arab Finance: Orascom Construction PLC's board has approved transferring the company's primary share listing to the Abu Dhabi Securities Exchange (ADX), while retaining its secondary listing on the Egyptian Exchange (EGX). The decision, made during a board meeting held on July 27th, 2025, involves delisting the company's shares from the Nasdaq Dubai, subject to shareholders' approval and the completion of all required regulatory procedures and approvals. The move will establish a dual listing structure, with ADX becoming the company's principal trading venue and EGX maintaining its role as the secondary market, without affecting the status of the company's shares on the latter. © 2025 All Rights Reserved Arab Finance For Information Technology Provided by SyndiGate Media Inc. (
Zawya
3 days ago
- Business
- Zawya
Orascom Construction's board greenlights transferring primary listing to ADX
Cairo – The board members of Orascom Construction approved transferring its primary share listing to the Abu Dhabi Securities Exchange (ADX) while maintaining its secondary listing on the Egyptian Exchange (EGX). Subject to the approval of the shareholders and regulatory procedures, the UAE-based company will delist its shares from the Nasdaq Dubai, according to a bourse disclosure. The dual-listed firm will also relocate from the DIFC to ADGM after obtaining the required approvals and completing the necessary measures. In the three-month period that ended on 31 March 2025, Orascom Construction logged consolidated net profits worth $27.10 million, an annual drop from $49.80 million. All Rights Reserved - Mubasher Info © 2005 - 2025 Provided by SyndiGate Media Inc. (
South China Morning Post
3 days ago
- Business
- South China Morning Post
China Evergrande nears delisting as 18-month trading suspension expires
China Evergrande Group is edging closer to delisting from the Hong Kong stock exchange, as the trading suspension imposed following its court-ordered liquidation hit the 18-month mark. Advertisement The company's shares have been suspended from trading since January 29, 2024 – the same day a Hong Kong court ordered its liquidation after it failed to present a viable restructuring plan. Under the exchange's rules, a company that remains suspended for 18 consecutive months is subject to delisting. Evergrande, founded by Hui Ka-yan in 1996 and listed in Hong Kong in 2009, was a poster child of China's property boom. The company aggressively diversified into sectors ranging from bottled water to electric vehicles and football clubs to theme parks, amassing more than US$300 billion in liabilities at its peak. Its financial troubles came to the fore in 2021, after Beijing rolled out the 'three red lines' policy to rein in overleveraged developers and cool down the housing market. 08:36 A vanishing fairyland dream: how China Evergrande rose, then crashed A vanishing fairyland dream: how China Evergrande rose, then crashed The move later triggered a cash crunch that led to widespread stoppages in construction, missed payments and a sharp drop in investor confidence. The cash-strapped developer defaulted on its offshore bonds in late 2021, sparking global concerns about contagion from China's housing downturn. Advertisement
Associated Press
3 days ago
- Business
- Associated Press
Nasdaq Delisting Notice and Hearing Request
London, United Kingdom July 28, 2025 --( )-- Argo Blockchain plc ('Argo' or the 'Company') Argo Receives Nasdaq Delisting Notice and Intends to Request a Hearing As previously announced, on 16 January 2025, Argo Blockchain plc (LSE: ARB; Nasdaq: ARBK) received a letter from The Nasdaq Stock Market LLC Listing Qualifications Department ('Nasdaq') indicating that it was not in compliance with the minimum bid price requirement set forth in Nasdaq Listing Rule 5450(a)(1) because the bid price of Argo's American Depositary Shares ('ADSs') closed below $1.00 per share for 30 consecutive business days. Argo announces today that it received a letter from Nasdaq dated 18 July 2025, indicating that Argo has not regained compliance with the minimum bid price requirement pursuant to the cure period provided by Nasdaq Listing Rule 5810(c)(3)(A) by the prescribed deadline of 15 July 2025, and that, as a result, Nasdaq has determined to delist Argo's ADSs from the Nasdaq Global Select Market. In accordance with the Nasdaq Listing Rules, Argo intends to request a hearing before a Nasdaq Hearings Panel. The hearing request will automatically stay any suspension or delisting action pending the conclusion of the hearings process and it is expected that the Company's securities will continue to trade on Nasdaq under its trading symbol: ARBK. There can be no assurance that Argo will be able to regain compliance with the minimum bid price requirement or will otherwise be in compliance with all other applicable Nasdaq Listing Rules, or that Argo's hearing will be successful. If Argo's securities are suspended from trading on or delisted from Nasdaq, it could become more difficult to buy or sell Argo's ADSs or to obtain accurate quotations, and the price of Argo's ADSs could suffer a material decline. Further announcements will be made as appropriate. This announcement contains inside information. For further information please contact: Argo Blockchain Investor Relations [email protected] Tennyson Securities Corporate Broker Peter Krens +44 207 186 9030 Fortified Securities Joint Broker Guy Wheatley, CFA +44 7493 989014 [email protected] Tancredi Intelligent Communication UK & Europe Media Relations [email protected] About Argo: Argo Blockchain plc is a dual-listed (LSE: ARB; NASDAQ: ARBK) blockchain technology company focused on large-scale cryptocurrency mining. With a mining facility in Quebec and offices in the US, Canada, and the UK, Argo's global, sustainable operations are predominantly powered by renewable energy. In 2021, Argo became the first climate positive cryptocurrency mining company, and a signatory to the Crypto Climate Accord. For more information, visit This release contains information about Argo management's view of future expectations, plans and prospects that constitute forward-looking statements for purposes of the safe harbor provisions under The Private Securities Litigation Reform Act of 1995. Actual results may differ materially from historical results or those indicated by these forward-looking statements as a result of a variety of factors and are subject to certain assumptions, risks, uncertainties and changes in circumstances. If Argo is unable to regain compliance with the Nasdaq minimum bid price requirement and its hearing is unsuccessful, its ADSs will be delisted from the Nasdaq Global Select Market. If the ADSs are delisted from the Nasdaq Global Select Market, they may trade on the over-the-counter market, which may be a less liquid market. In such case, your ability to trade, or obtain quotations of the market value of, the ADSs could be severely limited because of lower trading volumes and transaction delays. These factors could contribute to lower prices and larger spreads in the bid and ask prices for the ADSs. Contact Information: Argo Blockchain plc Investor Relations +44 203 434 2330 Contact via Email Read the full story here: Nasdaq Delisting Notice and Hearing Request Press Release Distributed by
