Natura
January 18, 2024
SÃO PAULO, January 18, 2024 --
Natura &Co said its board approved a plan to end the company's secondary listing of American Depositary Shares on the New York Stock Exchange while keeping its primary listing of common shares on Brazil's B3 exchange in São Paulo.
Chief Executive Fabio Barbosa said the move fits the group's long-term strategy of simplifying operations. Natura &Co said the vast majority of trading activity is concentrated on B3 and that declining NYSE volume no longer made the secondary listing compelling. The company expected the NYSE to suspend trading in the ADSs on or about February 9, 2024, ten days after filing a Form 25 with the U.S. Securities and Exchange Commission.
Natura &Co said it had not arranged for listing or quotation of the ADRs on another U.S. exchange and would maintain disclosure standards through its Brazil listing. The group unites the Natura and Avon brands.