Chemical company DGL - whose chief executive Simon Henry hit the headlines for making derogatory comments about Kiwi chef Nadia Lim - is leaving the NZX.
In a letter to shareholders, company secretary Andrew Draffin said the decision to delist was made after "participation" from New Zealand shareholders wasn't as high as anticipated.
Draffin also wrote that the board saw "little to no value" to DGL and its shareholders to be listed in New Zealand.
NZX chief executive Mark Peterson told the NZ Herald the decision was a clear reaction to Henry's comments in April about Lim and the My Food Bag IPO.
Henry told NBR last month: "I can tell you, and you can quote me, when you’ve got Nadia Lim, when you’ve got a little bit of Eurasian fluff in the middle of your prospectus with a blouse unbuttoned showing some cleavage, and that’s what it takes to sell your scrip, then you know you’re in trouble."
His comments drew widespread criticism, including from the Prime Minister and the board of DGL.
DGL boss Simon Henry made the comments in an interview this week. (Source: 1News)
Henry later apologised to Lim in a two-line letter.
The Australia-based DGL will leave the NZX at the end of June and have a sole listing on the Australian ASX. Kiwi shareholders would have their shares transferred automatically.
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