Orange, the prominent French telecommunications company, has announced its decision to voluntarily delist its American Depositary Shares (ADRs) from the New York Stock Exchange (NYSE) and deregister with the U.S. Securities and Exchange Commission (SEC). This strategic move is driven by a desire to streamline operations and reduce administrative and financial burdens, ultimately contributing to a more efficient business model.
While this change may raise eyebrows, it is important to note that Orange’s commitment to its U.S. clients, partners, and commercial presence remains unwavering. The delisting will not affect these vital relationships, and the company emphasizes its dedication to maintaining open communication with U.S. investors.
The delisting process is slated to commence in the fourth quarter of 2024 when Orange files a Form 25 with the SEC. The ADRs will officially cease trading on the NYSE ten days after the filing.
Orange’s commitment to its U.S. investors doesn’t end there. The company plans to continue its ADR program, allowing investors to retain their ADRs and engage in trading on the U.S. Over-The-Counter (OTC) market. This ensures seamless continuity for those invested in Orange.
In other news, Orange Business, leveraging its local expertise and service center, has partnered with ACUD’s data center to provide co-location services. The company also announced the successful completion of the first phase of a new data center and communications infrastructure for Grifols Egypt.
Investors seeking exposure to Orange can utilize the Defiance Quantum ETF (QTUM).
ORAN shares are currently trading down 0.89% at $11.97 as of Wednesday’s last check.
