May 31 (Renewables Now) - Swedish marine energy company Eco Wave Power Global AB (NASDAQ:WAVE) will no longer have its stock trading on the Nasdaq First North Growth Market Sweden from June 14, 2022.
The company said in a statement on Monday that the Swedish bourse has accepted its application to delist its common shares. As of the aforementioned date, Eco Wave Power will only have its American Depositary Shares (ADSs) trade on the Nasdaq Capital Market in the US under the ticker symbol "WAVE".
Inna Braverman, co-founder and CEO of the wave energy specialist, previously commented that abandoning the dual-listing status of the company will allow it to reduce expenses.
Eco Wave Energy completed an initial public offering (IPO) on the Nasdaq Capital Market in the US last summer.