Pact Group Holdings Announces Voluntary Delisting from ASX

Pact Group Holdings ( (AU:PGH) ) has provided an update.

Pact Group Holdings has announced its intention to voluntarily delist from the Australian Securities Exchange (ASX), citing reasons such as a concentrated shareholder register, low trading volume, and the costs and burdens of maintaining a listing. The decision is part of a strategic move to focus more on business operations and long-term objectives. The delisting process involves shareholder approval at an extraordinary general meeting, with Bennamon Industries, a major shareholder, supporting the move. This decision follows previous indications during a takeover bid that delisting was a possibility, and it impacts shareholders by transitioning share trading to off-market private transactions post-delisting.

More about Pact Group Holdings

Pact Group Holdings is a company operating in the packaging industry, focusing on providing sustainable packaging solutions. It offers a range of products and services aimed at reducing environmental impact, serving various market segments with innovative packaging solutions.

YTD Price Performance: 30.85%

Average Trading Volume: 181

Technical Sentiment Signal: Sell

Current Market Cap: €213.9M

See more data about PGH stock on TipRanks’ Stock Analysis page.