Burning Rock Biotech Limited Announces Expected Delisting of American Depositary Shares
Burning Rock Biotech has announced its intention to delist its American Depositary Shares (ADSs) from the London Stock Exchange (LSE) and cancel their listing on the Official List of the UK Financial Conduct Authority. The company cites sustained low trading volume and liquidity of its ADSs on the LSE as the primary reason for this decision, along with the costs associated with maintaining the listing. The delisting is expected to take effect on or around September 18, 2024. Importantly, Burning Rock's ADSs will continue to trade on the Nasdaq Global Market after the LSE delisting.
Burning Rock Biotech ha annunciato la sua intenzione di rimuovere le sue Azioni di Deposito Americane (ADS) dalla Borsa di Londra (LSE) e di annullare la loro quotazione nell'Elenco Ufficiale della Financial Conduct Authority del Regno Unito. L'azienda cita il volume di scambi e la liquidità costantemente bassi delle sue ADS sulla LSE come principale motivo di questa decisione, insieme ai costi associati al mantenimento della quotazione. Si prevede che la rimozione abbia effetto intorno al 18 settembre 2024. È importante notare che le ADS di Burning Rock continueranno a essere scambiate sul Nasdaq Global Market dopo la rimozione dalla LSE.
Burning Rock Biotech ha anunciado su intención de deslistar sus Acciones de Depósito Americanas (ADS) de la Bolsa de Valores de Londres (LSE) y cancelar su listado en la Lista Oficial de la Autoridad de Conducta Financiera del Reino Unido. La compañía cita el bajo volumen de comercio y liquidez sostenidos de sus ADS en la LSE como la razón principal de esta decisión, junto con los costos asociados al mantenimiento del listado. Se espera que el deslistado entre en vigor alrededor del 18 de septiembre de 2024. Importante, las ADS de Burning Rock continuarán negociándose en el Nasdaq Global Market después del deslistado en la LSE.
버닝 록 바이오텍(Burning Rock Biotech)은 런던 증권 거래소(LSE)에서 미국 예탁 주식(ADS)을 상장폐지하고 영국 금융행위감독청의 공식 목록에서 상장 취소할 계획을 발표했습니다. 회사는 지속적으로 낮은 거래량과 유동성이 ADS 상장 폐지의 주된 이유라고 밝히며, 상장 유지와 관련된 비용도 언급했습니다. 상장 폐지는 2024년 9월 18일 전후에 시행될 것으로 예상됩니다. 중요한 것은, 버닝 록의 ADS는 런던 증권 거래소 상장 폐지 후에도 나스닥 글로벌 마켓에서 계속 거래될 것이라는 점입니다.
Burning Rock Biotech a annoncé son intention de retirer ses American Depositary Shares (ADS) de la Bourse de Londres (LSE) et d'annuler leur cotation sur la liste officielle de la Financial Conduct Authority du Royaume-Uni. La société cite le volume d'échange et la liquidité constamment faibles de ses ADS à la LSE comme principal motif de cette décision, ainsi que les coûts associés au maintien de la cotation. La radiation devrait entrer en vigueur aux alentours du 18 septembre 2024. Il est important de noter que les ADS de Burning Rock continueront à être négociées sur le Nasdaq Global Market après la radiation de la LSE.
Burning Rock Biotech hat seine Absicht angekündigt, seine American Depositary Shares (ADS) von der Londoner Börse (LSE) abzuwickeln und deren Listung auf der offiziellen Liste der britischen Finanzaufsichtsbehörde zu stornieren. Das Unternehmen nennt das anhaltend niedrige Handelsvolumen und die Liquidität seiner ADS an der LSE als Hauptgrund für diese Entscheidung, zusammen mit den Kosten im Zusammenhang mit der Aufrechterhaltung der Listung. Die Abwicklung wird voraussichtlich um den 18. September 2024 in Kraft treten. Wichtig ist, dass die ADS von Burning Rock nach dem Abwickeln an der LSE weiterhin am Nasdaq Global Market gehandelt werden.
- ADSs will continue to trade on the Nasdaq Global Market
- Potential cost savings from delisting from LSE
- Delisting from London Stock Exchange may reduce global investor access
- Low trading volume and liquidity of ADSs on LSE indicates weak investor interest
Insights
Burning Rock's decision to delist from the London Stock Exchange (LSE) signals potential challenges in maintaining dual-listed status. The low trading volume and liquidity of its ADSs on the LSE suggest investor interest in the UK market. This move could be seen as a cost-cutting measure, as maintaining multiple listings can be expensive. However, it's important to note that the company will continue trading on Nasdaq, which is likely its primary market for international investors.
From a financial perspective, this delisting might have a minimal impact on the company's overall market value. The consolidation of trading to Nasdaq could potentially improve liquidity in that market. Investors should monitor for any changes in trading patterns or volume on Nasdaq following the LSE delisting, as this could indicate shifts in investor sentiment or accessibility.
The delisting from LSE highlights a broader trend of companies reassessing their global listing strategies. For Burning Rock, a Chinese biotech firm, maintaining a presence on the LSE might not have provided the expected benefits in terms of investor outreach or capital access. This decision underscores the importance of market fit and investor base alignment for international companies.
The choice to retain Nasdaq listing while exiting LSE suggests that Burning Rock sees greater value and engagement in the US market. This could be due to factors such as higher analyst coverage, better understanding of the biotech sector, or a larger pool of investors interested in emerging market opportunities. Long-term, this strategic focus on Nasdaq could lead to more targeted investor relations efforts and potentially improved market performance.
GUANGZHOU, China, Aug. 19, 2024 (GLOBE NEWSWIRE) -- Burning Rock Biotech Limited (the “Company” or “Burning Rock”) announces that, on August 19, 2024, it intends to submit requests (a) to the London Stock Exchange (the “LSE”), to cancel the admission to trading on the Main Market of its American Depositary Shares representing the class A ordinary shares of the Company (the “ADSs”), and (b) to the UK Financial Conduct Authority, to cancel the listing of the ADSs on the Official List.
As a result of sustained low volume of trading and liquidity in the ADSs on the LSE, and taking into account the costs associated with maintaining such listing in place, the Company is seeking the delisting and cancellation of admission to trading of the ADSs from the LSE (the “Delisting”). It is anticipated that the Delisting will take effect on or about September 18, 2024.
Following the Delisting, the ADSs will continue to trade on the Nasdaq Global Market.
About Burning Rock
Burning Rock Biotech Limited (NASDAQ: BNR and LSE: BNR), whose mission is to Guard Life via Science, focuses on the application of next generation sequencing (NGS) technology in the field of precision oncology. Its business consists of i) NGS-based therapy selection testing for late-stage cancer patients, and ii) NGS-based cancer early detection, which has moved beyond proof-of-concept R&D into the clinical validation stage.
For more information about Burning Rock, please visit: www.brbiotech.com.
Contact: IR@brbiotech.com
FAQ
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