What just happened to Richemont? 911%!
REMINDER: Compagnie Financière Richemont (CFR) is a Swiss luxury goods company that has a subsidiary in South Africa.
The subsidiary's depositary receipts and warrant receipts were previously listed and traded on the Johannesburg Stock Exchange (JSE).
However, starting from April 19th, 2023, these financial instruments will be suspended from trading on the JSE and relevant A shares and relevant A warrants will instead be listed on the exchange.
Hold your horses!
The 912% increase in Compagnie Financière Richemont (CFR) share price likely resulted from the conversion of financial instruments related to the company's South African subsidiary.
The company announced a deadline for the conversion of depositary receipts and warrant receipts, which resulted in the suspension of trading on the Johannesburg stock exchange and the listing of relevant shares and warrants on the exchange.
This process likely had a positive impact on the company's share price and resulted in the significant increase.
The subsidiary's depositary receipts and warrant receipts were previously listed and traded on the Johannesburg Stock Exchange (JSE).
However, starting from April 19th, 2023, these financial instruments will be suspended from trading on the JSE and relevant A shares and relevant A warrants will instead be listed on the exchange.
Hold your horses!
The 912% increase in Compagnie Financière Richemont (CFR) share price likely resulted from the conversion of financial instruments related to the company's South African subsidiary.
The company announced a deadline for the conversion of depositary receipts and warrant receipts, which resulted in the suspension of trading on the Johannesburg stock exchange and the listing of relevant shares and warrants on the exchange.
This process likely had a positive impact on the company's share price and resulted in the significant increase.
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Trade Well,
Timon Rossolimos
Founder, MATI Trader
(Pro trader since 2003)
facebook.com/groups/matitrader
🌐Website:
timonandmati.com
𝕏 (Formerly Twitter):
twitter.com/timonr
Trade Well,
Timon Rossolimos
Founder, MATI Trader
(Pro trader since 2003)
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