John Keells Holdings wraps up Luxembourg GDR delisting

John Keells Holdings announced this week that it has concluded the delisting of the Global Depositary Receipt (GDR) programme of the Luxembourg Stock Exchange.

In November 2023, John Keells Holdings announced that its board had decided to terminate its GDR programme. The decision was based on the relatively low number of GDRs in circulation and their minimal impact on trading in the company’s securities.

GDRs are financial instruments used to raise capital from international investors. They represent ownership in a foreign company and are issued by a bank in a foreign country. GDRs are typically denominated in US dollars and traded on international stock exchanges.

GDRs are popular among emerging market companies that wish to raise capital from international investors. They offer several advantages, including access to a broader pool of investors, improved liquidity and a lower cost of capital.