Nexxen International Ltd.: Streamlining its Stock Exchange Listing and Trading Structure
In a recent corporate announcement, Nexxen International Ltd. (NASDAQ: NEXN), a leading global advertising technology company specializing in data and advanced TV, has successfully completed the previously disclosed stock exchange and trading structure modifications. The Company is now exclusively listed on The Nasdaq Stock Market.
Background
Nexxen International Ltd. is a pioneering company in the field of flexible advertising technology, with a strong focus on data and advanced TV. The Company’s innovative solutions enable advertisers to reach their target audiences more effectively and efficiently. In recent years, Nexxen has expanded its business operations and footprint, leading to the need for a more streamlined trading structure.
The Changes
The Company’s stock exchange and trading structure modifications involved the delisting of its ordinary shares from the Toronto Stock Exchange and the New York Stock Exchange (NYSE American), and the consolidation of its American Depositary Shares (ADSs) into a single class of ordinary shares. With this change, Nexxen is now solely listed on The Nasdaq Stock Market.
Impact on Nexxen
The streamlining of Nexxen’s stock exchange and trading structure will bring several benefits to the Company. First and foremost, it will simplify the administrative burden of maintaining multiple listings and reduce costs associated with complying with the reporting requirements of multiple exchanges. Additionally, it is expected that the single listing on The Nasdaq Stock Market will increase liquidity and improve market efficiency for Nexxen’s shares.
Impact on Investors
For existing Nexxen shareholders, the consolidation of ADSs into a single class of ordinary shares will result in a change in the number of shares they hold. The consolidation ratio was 1:10, meaning that each ADS holder will now own 10% of the number of ordinary shares they previously held. This change will not affect the value of their overall investment, but it may impact their cost basis and the number of shares they are entitled to vote.
Impact on the Advertising Industry
The consolidation of Nexxen’s listing on The Nasdaq Stock Market is a positive development for the advertising industry as a whole. It signals the Company’s commitment to continued growth and innovation in the field of advertising technology. With a single listing, investors will have easier access to Nexxen’s shares, making it simpler for them to invest in and support companies driving advancements in advertising technology.
Conclusion
Nexxen International Ltd.’s decision to streamline its stock exchange and trading structure by consolidating its listing on The Nasdaq Stock Market is a strategic move that will bring several benefits to the Company, its investors, and the advertising industry. The simplification of administrative burdens and costs, increased liquidity, and improved market efficiency are all positive outcomes of this change. As Nexxen continues to innovate and grow, investors can look forward to a more streamlined and accessible investment experience.
- Nexxen International Ltd. completes stock exchange and trading structure modifications
- Company now solely listed on The Nasdaq Stock Market
- Benefits include simplified administrative burden, increased liquidity, and improved market efficiency
- Impact on investors: change in number of shares held
- Positive development for the advertising industry
