Sygnia Itrix has announced the partial delisting of its flagship product, the Sygnia Itrix MSCI US ETF (JSE Code: SYGUS), from the Johannesburg Stock Exchange (JSE). The delisting involves the removal of 900,000 securities from the exchange, signalling the company’s commitment to adapting to evolving market dynamics and optimizing its portfolio.
The delisting process, which commenced today, has valued each security at approximately ZAR 76.56. This move adheres to the regulations outlined in the Collective Investment Schemes Control Act, 45 of 2002, which governs the registration and operation of collective investment schemes in South Africa.
By partially delisting the SYGUS securities, Sygnia Itrix aims to improve liquidity and enhance the ETF’s overall performance for existing shareholders. Following the delisting, the total number of SYGUS securities in circulation will be adjusted to 88,324,005.
The Sygnia Itrix MSCI US ETF has been a popular choice among investors seeking exposure to the U.S. equity market, as it tracks the performance of the MSCI US Index, comprising a diverse range of companies across various sectors. This strategic decision to partially delist the securities aligns with the company’s commitment to providing investment opportunities that accurately reflect market trends.
Investors who currently hold SYGUS securities need not take any action as a result of this partial delisting. The ETF will continue to be traded on the JSE, albeit with a reduced number of securities available for trading.