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Sendas Distribuidora (NYSE: ASAI) has announced its intention to voluntarily delist its American Depositary Shares (ADSs) from the NYSE, with plans to make the delisting effective by January 9, 2025. The company's Board of Directors approved the decision to change its ADR program to Level 1, allowing investors to continue trading ADSs over-the-counter after delisting.
The decision comes as approximately 87% of trading in the company's common shares is concentrated on Brazil's Novo Mercado segment. Sendas considers maintaining a NYSE listing no longer beneficial and views the delisting as aligned with its long-term strategy of maintaining efficient operations as a low-cost company.
The company will maintain its primary listing on Brazil's Novo Mercado and continue all required Brazilian disclosures and current corporate governance practices.
Assaí Atacadista (ASAI) reported strong Q3 2024 results with revenue reaching R$ 20.2 billion, up 9.3% year-over-year. Pre-IFRS16 EBITDA grew 12.1% to R$ 1 billion with a 5.5% margin. Gross profit increased 10.7% to R$ 3 billion, while pre-IFRS16 net income rose 10% to R$ 198 million. The company's leverage decreased to 3.52x, with a target of below 3.2x by year-end. Same-store sales grew 2.6% despite food deflation challenges. The company opened four new stores in Q3, reaching 297 locations, and successfully raised R$ 5.3 billion in financing while improving debt terms.
Sendas Distribuidora S.A. (NYSE: ASAI) has filed its Annual Report on Form 20-F for the fiscal year ending December 31, 2021, with the SEC on May 02, 2022. The report includes audited financial statements and can be accessed at the SEC's website or the Company’s investor relations site. Shareholders interested in a hard copy of the report can request it for free by contacting the Company via phone or email.
Brazilian retailer Assaí Atacadista (NYSE: ASAI) began trading its American Depositary Shares on the NYSE on March 8, 2021, following a split-off from CBD. This move aims to enhance liquidity and visibility in the international market. In the last quarter of 2020, Assaí recorded a net profit of R$299 million, a 31% increase year-over-year. Its gross income surged by 30% to R$39.4 billion, bolstered by a robust expansion strategy and the opening of new stores, including 28 planned for 2021.
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