Israeli biopharma company Teva Pharmaceutical Industries Limited (TEVA) is set to replace its American Depository Shares (ADSs) with the direct listing of its ordinary shares on the NYSE. The shares will start trading on Sept. 14 after the ADSs stop trading, with the ADS-holders receiving a one-for-one exchange. The move highlights the company's focus on United States market growth, aiming to broaden its shareholder base and optimize its cost of capital. This also opens up the potential for the stock to be included in major indices, potentially bringing greater visibility and institutional investors' attention.
We take a closer look at Teva Pharmaceutical before that happens.
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