The Clap
Pachin (PACH) & Alexandria Mineral Oils (AMOC) have decided to cut their losses & ditch their global depository receipts (GDR) program on the London Stock Exchange.
What
GDRs are meant to allow foreign investors to invest their money in companies located in other countries, but it seems the performance of these GDRs hasn’t been up to par.
So what
By canceling the program, AMOC will save 18 thousand British pounds per year, while Pachin will save a more significant 85 thousand British pounds annually.
Now what
Pachin also mentioned that the decline of the Egyptian pound played a role in their decision to say goodbye to their certificates.
