Kirin Brewery Quits NASDAQ for Pink Sheets (KNBWY)

Jul. 3.06 | About: Kirin Holdings (KNBWY)

It's official, Kirin Brewery (OTCPK:KNBWY) no longer trades on the NASDAQ and now has a ".pk" suffix on its ticker. This was a voluntary move by Kirin and likely a result of listing requirements and fees. The company doesn't think its ADR holders will be affected by not trading on the NASDAQ. I tend to agree in the sense that trading should continue to be liquid; however I have mixed feelings regarding financial transparency and corporate image.

Kirin's last day of trading on the NASDAQ was on Friday. If you are an ADR and have any questions you can see this press release that contains contact information.

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Overnight in Tokyo, Kirin's ordinary shares (Tokyo: 2503) gained 0.50% to close at 1,808 yen ($15.77). Kirin's ADRs closed last Friday at $15.65.

Kirin Brewery (OTCPK:KNBWY) 1-year chart: