Beauty conglomerate Natura &Co has announced plans to remove its listing from the New York Stock Exchange (NYSE) amid an ongoing strategy aimed at “simplifying operations”.
The company’s board revealed the plans in a regulatory filing, noting that it would maintain its primary listing of common shares on the B3 stock exchange in São Paulo, Brazil, where it originates.
According to the board, the move was driven by the “decreasing trading volume” of shares in New York, no longer making the listing a “compelling option”.
The suspension of shares is expected to take place on or around February 9, 2024.
In the filing, Nature &Co’s CEO, Fabio Barbosa, said: “The planned delisting of Natura &Co from the NYSE is consistent with our long-term strategy for the business. 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.”
Natura &Co has seemingly been going through a rollercoaster of financial issues over the past year, reporting increased revenues despite hits from what were its more international labels.
These included The Body Shop and Aesop, both of which the group ultimately opted to sell as part of the strategic review, bolstering efforts to refocus its operations.
