Casino equipment and online games provider Light & Wonder Inc confirmed on Monday that its delisting from the Nasdaq in the United States is to take effect before the opening of trading on November 13.
The firm will then move to a sole primary listing on the Australian Securities Exchange (ASX), as previously announced.
Light & Wonder trades under the ticker LNW on the Nasdaq and the ASX.
The last day of trading on the Nasdaq will, therefore, be November 12
“The decision to transition to a sole ASX primary listing reflects Light & Wonder’s strategic focus on aligning our capital markets presence with our long-term growth plans and shareholder base,” the firm said in a Monday release.
It added: “We are seeking to consolidate trading liquidity onto the ASX, a deep and liquid market that has a robust understanding of the gaming sector.”
Light & Wonder said it continues “to engage with the Nasdaq in relation to the delisting and with the ASX in relation to the transition to a primary listing”.
The conversion from an ASX foreign-exempt listing to a standard listing, “including the timetable thereof, remains subject to the ASX’s waivers and confirmation of various conditions,” the firm added.
Existing Light & Wonder shareholders on the Nasdaq that wish to continue trading their company shares on a centralised stock exchange will be required to convert their shares into CHESS Depositary Interests – also known as CDIs – for trading on the Australian bourse.
In August, Light & Wonder reported net income of US$95 million for the three months to 30 June, on revenue that fell 1.1 percent year-on-year to US$809 million.
At the time, the company confirmed that the group would transition to a sole listing on the ASX by the end of 2025.
