Brazilian telco Oi has informed its shareholders that the company’s deregistration from the US Securities and Exchange Commission (SEC) became effective on 14 February. Oi clarifies that the deregistration does not impact the listing of its shares on B3, the Brazilian stock exchange.
As previously reported by CommsUpdate, Oi voluntarily delisted its Common American Depositary Receipts (ADRs) from the New York Stock Exchange (NYSE) on 28 October 2021. As a result, the Common ADRs began to trade over-the-counter (OTC) under the ticker symbol ‘OIBZQ’. (Note: OTC transactions occur directly between two parties, without the supervision of an exchange.)