Fonterra Shareholders Fund (ASX:FSF, NZE:FSF) received conditional approval from the Australian Securities Exchange to remove it from the bourse's official list, according to a Wednesday filing with the ASX.
The bourse told the firm that it must apply for its shares to be suspended from quotation on ASX at least two business days before its proposed removal date.
Other conditions include informing shareholders via electronic communication and market announcement of the time and date for the suspension and removal of its shares from the official list of ASX.
The firm plans to be removed from the ASX at the close of trading on Feb. 27, and trading of its shares will continue on the bourse until market close on Feb. 25.
Following the company's removal from the bourse's official list, shareholders will only be able to sell their shares via the New Zealand's Exchange or via off-market private transactions.
Its shares fell almost 1% in early trade Wednesday on the Australian bourse and over 1% on the New Zealand bourse.
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