Astralis intend to leave stock exchange

Danish organization Astralis intends to hold an extraordinary board of directors to bring up the question of leaving the Nasdaq First North Growth Market Denmark stock exchange. This was reported by portal, which found out about the public notice of the company's chairman Nikolaj Nyholm on the upcoming meeting.

Astralis A/S launched the public listing process at the end of 2019. As a result, the club entered Nasdaq First North Growth Market Denmark under the ticker ASTRLS.

However, as of now, the management of the organization negatively evaluates the placement of its shares on the stock exchange, as Astralis quotes have dropped to $0.14 per share. The organization believes that low cost reduces the company's liquidity and its ability to navigate existing markets.

The club believes that leaving the exchange will save about $3 million a year. This amount is the average cost of listing on Nasdaq First North Growth Market Denmark.

The board of directors is to be held on August 8. The company is expected to vote unanimously to leave the stock exchange.