Natura & Co is ending its secondary listing of American Depositary Shares (ADSs) on the New York Stock Exchange (NYSE).
The move, approved by the company's board of directors, is part of the Brazilian conglomerate’s long term strategic objectives to “simplify operations”.
The declining volume of trades in its ADSs on the NYSE has led to the decision.
Naturta & Co will keep its primary listing of ordinary shares on the B3 stock exchange in São Paulo as the vast majority of its trading activity is concentrated there.
The NYSE delisting is expected to be effective ten days after the company files a Form 25 with the US Securities and Exchange Commission.
Natura & Co expects to suspend trading on or around 9 February 2024.
“The planned delisting of Natura & Co from the NYSE is consistent with our long term strategy for the business,” said Natura & Co CEO Fabio Barbosa in a statement.
“This move underscores our continued focus on simplifying our operations to reduce complexity.
“We thank Natura & Co investors who held ADRs and look forward to welcoming many of them as shareholders on the B3 market.
“Upholding our dedication to transparency, we will maintain our high disclosure standards through our listing in Brazil."
This announcement comes after a time of structural change for Natura & Co.
Last year, the conglomerate sold The Body Shop to private equity investor Aurelius Group for £207m.
The move came after a long period of declining sales for the British Beauty brand.
This news followed Natura & Co’s divestment of Australian beauty brand Aesop to beauty giant L'Oréal earlier in the year.
