October 8, 2019 |
Brazil’s state-backed oil company Petrobras said it plans to move forward with a delisting of its shares from the Buenos Aires Stock Exchange, a latest departure from a shriveling bourse.
Petrobras said it has received approval from the Argentine National Securities Commission to cancel its listing on November 4, according to a filing with the stock exchange late Friday.
The decision, it said, is part of a strategy to reduce listing costs and focus on its bigger markets: Brazil’s B3 and the New
Brazilian oil giant is a latest departure from the shrinking Argentine bourse