Defense Contractor Leonardo DRS Voluntarily Delists From Israel Stock Exchange

Defense contractor Leonardo DRS Inc DRS has said that it is taking steps to voluntarily delist its common stock from the Tel Aviv Stock Exchange (TASE).

According to Israel's law, the delisting of Leonardo DRS's common stock is expected to take effect three months following the date of the company's delisting request to the TASE on September 27, 2023.

During the interim period, Leonardo DRS's common stock will continue to be traded on the TASE.

The delisting in Israel will not affect Leonardo DRS's continued listing on Nasdaq under the symbol DRS.

The shares that traded in TASE will now be transferred to the Nasdaq.

"At this time, we believe that it is in the best interest of our Company and its stockholders that we concentrate our market activity on a single exchange," said Chairman and CEO Bill Lynn.

Price Action: DRS shares are trading higher by 2.38% at $16.80 on the last check Wednesday.