AMOC + Pachin delist from LSE: EGX-listed Alexandria Mineral Oils Company (AMOC) and Paint and Chemical Industries (Pachin) have each decided to delist their global depository receipts (GDRs) from the London Stock Exchange, citing poor performance, according to individual disclosures to the EGX (here and here — pdfs). AMOC says that delisting will save the company GBP 18k in annual fees, while Pachin says it will save GBP 85k in annual fees to the London bourse.

Background: AMOC made its LSE debut in 2018, listing 50k GDRs representing 500k shares, while Pachin made its debut in 1997, listing 27% of the company.

Pachin blamed the falling value of the EGP for the delisting. When the company first started listing the USD was trading at EGP 3.4, while the GBP was at EGP 5.5, it said.

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