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Dubai's Depa cancels London Stock Exchange listing

The firm, which boasts Dubai's Burj Khalifa in its project portfolio, said the volume of its traded units was "negligible", and did not "justify the related expenses of the listing"

Depa's portfolio includes Dubai's Burj Khalifa.
Depa's portfolio includes Dubai's Burj Khalifa.

Depa Limited, the Dubai-headquartered firm that provided fit-out services for Burj Khalifa, announced the cancellation of its London listing. 

In a statement, Depa said that it had cancelled its global depository receipts (GDRs) traded on the London Stock Exchange (LSE).

READ: Depa reveals date of listing currency switch to UAE dirhams

The cancellation of the listings and the admission of the GDRs' trading took effect at 8am on 26 February, 2018. 

According to the firm, the delisting was carried out because "the volume of [GDRs] traded on the LSE was negligible and did not, in Depa’s view, justify the related expenses of the listing".

The company is also listed on Nasdaq Dubai.

Earlier this month, Depa announced that it would change its listing currency on Nasdaq Dubai from US dollars to UAE dirhams.

The company said its last day of trading in US dollars would be 6 March, 2018.

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Construction Week - Issue 747
Aug 03, 2019