A public company that I own stock in wants to change its domicile. I can see that ordinary shares (not referring to the DRs) of the company is listed on three exchanges in three countries, lets call the three exchanges A and B and C. A consequence of the redomiciliation is that the company will be delisted from exchange A, which is the one where my broker I bought the shares. I also have a different broker that has an agreement with exchange B.
- Is it correct that I will not have to sell my shares in the open market on exchange
A, transfer my funds to the broker that is connected with exchangeBto purchase the new shares over there? That would be madness, because who would buy the shares on exchangeA? Is it true that I can just transfer the shares from the broker connected withAto the broker connected withB, and the shares will magically appear on the other exchange? - What happens behind the scenes when the company redomiciles? I assume it has to get a new ISIN because is seems the first letters of the ISIN is determined by the registration country of the issuer. In the process of redomicilation, does the newly registered company (in the new jurisdiction) purchase all the shares of the old company, and issues shares of the newly registered company to all the shareholders? Or does something else happen?
Please, as an extra complication, could you also suggest a reference/textbook-chapter that will explain everything because I have to learn all the intricacies after you have revealed the answer for everyone.
