Absa Bank to Delist NewWave USD Notes in Strategic Move

  • Absa Bank Limited has redeemed 2,000,000 NewWave USD Exchange Traded Notes (NEWUSD) and initiated their de-listing from the Exchange Traded Note sub-sector of the JSE Limited's main board.
  • Following the redemption and de-listing, there will be 37,335,177 NEWUSD Notes in circulation.
  • Absa Bank aims to optimize its investment portfolio and explore new growth opportunities by streamlining its investment offerings through the partial de-listing of the NEWUSD Notes.
Absa Group

Absa Bank Limited, has made a significant announcement regarding its NewWave USD Exchange Traded Notes (NEWUSD). The bank’s Corporate and Investment Banking division has successfully redeemed 2,000,000 NEWUSD Notes, initiating the de-listing process from the Exchange Traded Note sub-sector of the JSE Limited’s main board.

The decision to partially de-list the NEWUSD Notes aligns with Absa Bank’s strategic objectives and reflects the evolving dynamics of the financial market. By streamlining its investment offerings, the bank aims to seize new opportunities and drive growth.

The NewWave USD Exchange Traded Notes (NEWUSD) have allowed investors to gain exposure to a diversified basket of international assets denominated in US dollars. However, the partial de-listing of the specified number of NEWUSD Notes suggests a shift in Absa Bank’s investment strategy.

Investors currently holding NEWUSD Notes should carefully evaluate the implications of this announcement, as the partial de-listing may impact the liquidity and trading activity of the instrument. It is recommended that investors review their investment strategies in light of this development.

Absa Bank Limited, through its Corporate and Investment Banking division, has acted as the sponsor for the NewWave USD Exchange Traded Notes (NEWUSD). With its extensive experience in managing investment products, Absa Bank is committed to providing comprehensive support to its clients throughout this transition.

While the specific reasons for the partial de-listing were not disclosed in the announcement, it is evident that Absa Bank is optimizing its investment portfolio and exploring new avenues for growth.

The redemption of 2,000,000 NEWUSD Notes and the subsequent de-listing will take effect immediately, commencing today. Market participants and investors are advised to stay informed about any further updates or announcements from Absa Bank regarding the NEWUSD Notes.

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