Asset manager AMP (ASX:AMP) says it will delist from the New Zealand Stock Exchange by February 4.
Shares will stop trading on the NZX by February 3 and AMP will then move to a sole listing on the ASX. The company said shareholders do not need to take any action and NZ shareholders will still be able to trade AMP shares through any NZ stockbroker who can facilitate trading through the ASX.
AMP said the delisting will support the simplification of AMP’s shareholder administration ahead of the planned demerger of its Private Markets business in the first half of 2022.
The delisting reflects the smaller number, and lower level of holdings of AMP shareholders on the New Zealand Exchange, following greater accessibility of the ASX to New Zealand-based shareholders, the company added.
Shares in AMP (ASX:AMP) are trading 1.6 per cent lower at $0.905.