This morning I looked up Anglo American ADR and could not find it. What I found was: "No listing under this symbol". I checked another financial site and nothing. I check the company web site and I found under investor information USD NASDAQ 0.00. Now it was getting very strange.There was no news anywhere, how could that be?
It turns out that the company is now listed on the "pink sheets", "over the counter" as Anglo American PLC ADS (OTC: AAUKY). There was no news Friday, no news over the weekend, no news this morning, no information under the old symbol, the new symbol or the web site, and no broker knew why there was a change, just that it happened.
This is the first time I can recall that such a change was made in the dark. There must be a reason. I would think the reason might even be material to some business strategy, or tax issue here or in Great Britain. Eventually there will be a report and if I find something later I will follow-up.
For those of you interested in the stock price in today's rising market, It closed Friday at $16.12 and is trading up to $16.83 as of 4:08 PM EDT. The stock is up over 60% for the year. It was featured in Chasing Value: Starting 2009 now -- AAUK, APC, DEO, & WFC and earlier in Chasing Value: Anglo American on sale.
UPDATE: as of 7:00 PM EDT this blog remains the only story I could find on the Internet. This is a first for me; a $45 billion company that makes a major business move with no news whatsoever!
UPDATE: as of 10:00 PM EDT there is zero to report -- nothing -- not in WSJ, Bloomberg, MSN, AOL, Yahoo -- you name it they do not have it -- and still including the company web site. I dearly hope that Sherlock Holmes is on the case because this is obviously some sinister plot on the part of the infamous and diabolical Professor Moriarty.
Sheldon Liber is the CEO of a small private investment company and the principal for design and research at an architecture & planning firm. He writes the columns Chasing Value and Serious Money. Disclosure: I own shares of AAUK.
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Reader Comments (Page 1 of 1)
8-03-2009 @ 6:58PM
Chan said...
Thank you... looking for update everywhere
8-03-2009 @ 9:38PM
jd said...
yes, I noticed that this morning as well! very strange, I look forward to any news you can find.
8-04-2009 @ 10:08AM
Peter said...
I just retweeted this on stocktwits. I also own AAUK and is really confused so please post any news.
8-04-2009 @ 1:42PM
jd said...
I emailed investor relations today and asked why...they said they de-listed from "nasdaq per their change in listing requirements that came into effect close of play 31st July 2009". does anyone know what this is a reference to?