Removal from the Listing of Wargaming on the Cyprus Stock Exchange
Rewritten Article:
Wargaming, the gaming giant behind World of Tanks, announced in 2014 that they were ditching the exchange. A spokesperson for the company stated, back then, "The company's presence on the exchange doesn't jive with our strategic plan, so it's not a smart move." Interestingly enough, the spokesperson added that this decision wouldn't dent their financial stats.
In the chilly months of 2014, the exchange council made an appeal to the Cyprus Securities Commission, asking for permission to yank Wargaming's shares off the exchange. The company fell short of meeting several exchange guidelines, including regularly disclosing their financial reports.
When asked about the strategic reason behind their decision to delist, the company has remained tight-lipped. However, companies usually opt for delisting for a variety of reasons—to save costs, gain strategic flexibility, or prepare for a buyout or merger.
As of 2013, approximately 2% of the company's shares were up for grabs. The rest belonged to the founder and CEO Victor Kislyi, his father, and two other top shots at the company.
Additional Insights:
- Delisting can help save a company from the expenses of being publicly traded, such as compliance and reporting fees.
- Going private might offer a company more room to make strategic moves without the prying eyes of the public markets.
- Delisting is sometimes a prelude to a larger plan, such as an acquisition or merger.
For more details on Wargaming's decision to delist, a deep dive into financial news archives or official company announcements from that period might provide some enlightening information.
- Wargaming, having found the expenses of being publicly traded, such as compliance and reporting fees, onerous, opted for delisting from the exchange in 2014 to save costs and gain strategic flexibility.
- By delisting, Wargaming might have sought to make more room for strategic moves without the prying eyes of the public markets, as going private often provides.
- In 2014, Wargaming's decision to delist did not dent their financial stats, despite their shares being a significant portion of the publicly available ones, as approximately 2% of the company's shares were up for grabs.
- The decision to delist Wargaming's shares from the exchange was made after the company fell short of meeting several exchange guidelines, including regularly disclosing financial reports, which were key indicators of the company's performance on the exchange.
