Aphria Inc (TSX: APHA) (NYSE: APHA) announced this morning that it will be transferring its US public listing from the New York Stock Exchange to that of the Nasdaq, with little justification provided for the transition aside from “cost cutting” which the company did not elaborate on.
In addition to pointing to cost cutting as a justification for the move, the company also identified that it feels the exchange will be a good fit as a result of 76% of companies listed on the Nasdaq “reporting at least one ESG metric,” as if thats reason enough to move.
ESG is short for environment, social, and governance, a phrase which has been used often as of late to reflect a firms societal impact and its efforts on sustainability.
The transition will be effective as of the close of markets on June 5, 2020.
Aphria Inc last traded at $4.04 on the NYSE.
Information for this analysis was found via Sedar and Aphria Inc. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security.
