Coats to quit NZX and ASX as Antipodean shareholdings dwindle

Tue, 17 Nov 2015

By Paul McBeth Nov. 18 (BusinessDesk) - Coats Group, the UK-based threadmaker that grew out of diversified investor Guinness Peat Group, plans to quit the ASX and NZX with Australasian investors making up less than a fifth of its ownership in a bid to cut down on the costs of multiple listings. The London-based company wants to de-list from the ASX and NZX in June next year, leaving its sole listing on the London Stock Exchange, it said in a statement. The move will be voted on at its annual meeting in May next year, and needs 50 percent...

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