Warehouse Group, the biggest retailer on the NZX 50 Index, has been given approval to delist from the Australian stock exchange after high costs forced it to review its duel listing.
The retailer has complied with the conditions set out by the ASX and will be removed from the exchange on June 29. Shares will be suspended from trading on the ASX on June 22 to allow time for settlement before the company is removal from the exchange.
Warehouse shareholders who wish to retain their shares will be transferred to the New Zealand bourse. The retailer's shares have shed 14 percent this year on the NZX, currently trading at $2.54.