HDFC Bank terminates, de-lists its GDRs from Luxembourg Stock Exchange


NEW DELHI, July 16: Private sector lender HDFC Bank Tuesday said it has terminated and de-listed its global depository receipts (GDRs) from the Luxembourg Stock Exchange due to low trading volume.

“….Subsequent to July 15, 2019, the listing and admission to trading of the GDRs on the Luxembourg Stock Exchange will be cancelled,” HDFC Bank said in a regulatory filing.

Earlier in April, the bank had informed that in view of the minimal number of GDRs outstanding and the low trading volume of the GDRs, its board has approved the proposal for termination of the GDR program and delisting of 22 GDRs, which are outstanding and listed on the Luxembourg Stock Exchange.