Westpac Bank to delist from NYSE

Tue, 11 Jan 2022

Westpac Bank will delist its American depositary shares which allow US investors to buy shares in the Australian bank through the New York Stock Exchange.An American depositary share, or ADS, is share in a non-US company that is held by a depositary bank and can be purchased by investors wanting to own the stock as if it were listed on their local exchange.Westpac today said it would be withdrawing its American depositary shares as part of its strategy to simplify the business.The bank also considered demerging its New Zealand banking business...

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