Thndr Claps » EGY Claps » EGX 🔔 » Pachin & AMOC abandon their GDR programs✖
The ClapPachin (PACH) & Alexandria Mineral Oils (AMOC) have decided to cut their losses & ditch their global depository receipts (GDR) program on the London Stock Exchange.
WhatGDRs 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 whatBy 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 whatPachin also mentioned that the decline of the Egyptian pound played a role in their decision to say goodbye to their certificates.
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