The Clap Domty’s (DOMT) board of directors decided to invite the company’s general assembly to discuss canceling the company’s global depository certificates (GDRs).
GDRs are financial instruments that enable companies listed in stock exchanges to raise funds abroad. Company’s agree to keep local shares deposited at foreign banks, & in turn the bank issues tradable certificates, which are backed by the company’s shares.
A company’s termination of its GDR program could be due to high costs & administrative burdens.
Domty GDR is equivalent to four shares.
In related news
Domty received a non-binding offer from Expedition Investments to acquire a 90% stake in the company, & Domty allows conducting due diligence in preparation for the acquisition deal.