Bonso Electronics International (NASDAQ:BNSO) stock is falling on Tuesday after the electronic sensor company announced plans to delist its shares.
According to a press release from Bonso Electronics International, the company is delisting its shares from the Nasdaq Stock Market. This will also see it deregister its stock with the Securities Exchange Commission (SEC), and suspend its public reporting requirements.
Bonso Electronics International is undergoing this delisting as the company engages in a review of its cost structure. That includes the costs that come with being a Nasdaq-listed and SEC-reporting company. The company’s Board determined that these additional costs aren’t in its best interest.
What’s Next For BNSO Stock?
Bonso Electronics International notes that once its shares are delisted, it will file to deregister from the SEC. This should happen in the near future. It notes that this may result in shares of BNSO stock trading on the OTC Markets Group.
Bonso Electronics International also points out that it will continue to provide operational data from time to time. That company says it will release this voluntarily as it wouldn’t be required to after deregistering from the SEC.
BNSO stock has some 10,000 shares changing hands as of this writing. For comparison, its daily average trading volume is about 28,000 shares. BNSO stock is also down 10.3% as of Tuesday morning.
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
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