Advasa Delays Nasdaq Debut to Aug. 25 as DTC Clearing for ADBT Shares Continues
Updated
Updated · Yahoo Finance · Aug 20
Advasa Delays Nasdaq Debut to Aug. 25 as DTC Clearing for ADBT Shares Continues
2 articles · Updated · Yahoo Finance · Aug 20
Summary
Aug. 25 is Advasa Holdings' new expected start date for Nasdaq Global Market trading, replacing the Aug. 18 target it announced on Aug. 17.
Final administrative clearing pushed back the debut, with Advasa, its transfer agent, DTC and brokerage participants still completing electronic intake and crediting of selling stockholders' shares.
The company said the revised timeline is meant to support an orderly direct listing and synchronized execution across U.S. and Japanese extended-hours trading platforms.
Nasdaq trading will not necessarily start at 9:30 a.m. ET because ADBT's opening price will be set through the exchange's opening auction, with timing dependent on orders and market conditions.
Advasa's S-1 was declared effective by the SEC on Aug. 11, and the fintech payment holding company has already received Nasdaq listing approval.