Light & Wonder Announces Final Timeline for Nasdaq Delisting
Light & Wonder has set the final dates for its planned delisting from the Nasdaq Stock Market as it moves to a sole primary listing on the Australian Securities Exchange (ASX).
Strategy to Consolidate Trading Liquidity
The company confirmed that its common stock will cease trading on Nasdaq on Wednesday, November 12, 2025. The delisting becomes effective before the market opens on Thursday, November 13, 2025 (EST). Trading in the company’s securities on the ASX will then begin on a sole primary basis at 10:00 am AEDT on Friday, November 14, 2025.
The decision to consolidate the listing on the ASX aligns L&W’s capital market presence with its long-term growth objectives. The company is specifically aiming to consolidate trading liquidity onto the Australian exchange. L&W views the ASX as a “deep and liquid market” that has a strong grasp of the gaming industry sector. The transition from an existing ASX Foreign Exempt Listing to an ASX Standard Listing remains dependent on the ASX granting the necessary waivers and confirmations of various conditions.
Options for US Shareholders
Upon the delisting taking effect, Light & Wonder’s shares will no longer be traded on Nasdaq. The ASX will then become the only centralized exchange for trading the company’s CHESS Depositary Interests (CDIs). Each CDI represents a beneficial interest in one share of L&W common stock.
Nasdaq shareholders who want to continue trading on a centralized exchange must convert their shares into CDIs. Shareholders who hold their stock through a broker must contact their broker to start the conversion process via a Notice of Transmutation: CDI Issuance Form.
Alternatively, shareholders can choose one of two other options:
- Sell their shares on Nasdaq on or before the close of trading on November 12, 2025.
- Hold their shares following the delisting, at which point the stock will only be tradeable on the over-the-counter (OTC) market.
The conversion process for both brokered and directly held shares is typically completed within two business days after L&W’s U.S. transfer agent, Equiniti Trust Company, LLC, receives a complete form and the shares are properly withdrawn. Shareholders should consult with their own broker, as fees may apply for the conversion service.
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