Janus Henderson to delist from ASX

Janus Henderson Group has submitted a request to the Australian Securities Exchange (ASX) to voluntarily delist.

The company said it was seeking to delist from ASX as the proportion of its issued capital that is held via CDIs has declined over time.

CHESS Depository Interests (CDIs) allow investors to obtain all the economic benefits  of foreign financial products and Australian Government Bonds without actually holding legal title to those financial products.

“As of September 2023, the proportion of the company’s issued capital held via CDIs is 5.5%, down from less than 12% at the time that the company transitioned to a foreign exempt listing on ASX in October, 2022, and down from the peak of 44% in January 2018,” the firm said in the announcement made to the ASX.

“In addition the above, there are low volumes of CDIs traded on the ASX as compared to the volumes traded on the NYSE and there is limited index inclusion of CDIs traded on the ASX as compared to that of NYSE, which has further contributed to the decision to apply for the delisting.

“Accordingly, the board of directors of the company are of the view that the benefits to the company’s shareholders of maintaining the ASX listing no longer outweigh the financial, administrative and compliance obligations and cost, and the maintaining the ASX listing is no longer in the best interests of the company or the company’s shareholders as a whole.”

Janus Henderson expects that the delisting will occur on 6 December, 2023 and the company’s CDIs are expected to be suspended and cease to trade on the ASX on 4 December 2023, two days before the delisting.

Following the company’s delisting, the company’s shares of common stock will continue to be traded on the New York Stock Exchange (NYSE).