Dufry has made the decision to delist from the Brazilian Stock Exchange and has revealed that is has taken steps to do so today.

Dufry has submitted a proposal to discontinue its Brazilian Depositary Receipt program and once terminated, Dufry says it will ‘take measures required to cancel its registration with the Brazilian Securities Commission as a category A, foreign issuer, as well its listing with B3’.

“Dufry’s decision to terminate the BDR Program and to cancel Dufry’s registration as a foreign issuer in Brazil took into consideration the low liquidity of Dufry’s BDRs and aims at reducing costs and operational complexities affecting the Company, and concentrating the trading of Dufry’s securities on the SIX Swiss Exchange,” the company said in a statement.

The information regarding the terms, conditions and specific procedures to be considered by the BDR holders with respect to the termination of the BDR Program will be disclosed by Dufry to the BDR holders in Brazil after the Proposal is approved by B3.

Dufry says it will keep the market informed of material developments concerning the termination of its BDR Program and its delisting from B3.