Nexxen International (LON: NEXN) has confirmed its strategic move to consolidate its listing exclusively on Nasdaq. The transition involves delisting from the AIM market in the UK, and terminating its Nasdaq-listed American Depositary Receipts (ADRs).
Once complete, Nexxen will trade solely under the ticker ‘NEXN’ on Nasdaq. Trading of AIM-listed depositary interests will cease on February 14 with a reverse stock split consolidating every two ordinary shares into one new ordinary share.
At 1802 EST (2302 GMT) on February 14, Nexxen’s ADRs will be exchanged for new ordinary shares, terminating the ADR facility. The AIM-listed depositary interests will be cancelled at 0700 GMT on February 17.
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Exclusive Nasdaq trading for new ordinary shares will commence on February 18. Current Nasdaq ADR holders do not need to take any action as their holdings will convert automatically.
Nexxen shares had been a significant outperformer on the UK markets in recent times, with gains of 79.77% over the past 12 months even after accounting for the decline of 4.59% today.
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