Atento to delist from NYSE amid financial restructuring
NEW YORK, UNITED STATES — Atento, a prominent global provider of customer relationship management (CRM) and business process outsourcing (BPO) services, will delist from the New York Stock Exchange (NYSE) as part of its comprehensive financial restructuring plan.
The NYSE initiated delisting procedures after Atento’s ordinary shares’ average market capitalization dropped below $15 million over a 30-day trading period. Consequently, trading of Atento’s ordinary shares has been indefinitely suspended since July 21, 2023. Despite these proceedings, Atento decided not to contest the NYSE’s decision.
The delisting affects only Atento’s holding company level shares and will not interfere with the company’s ongoing business operations. Post-delisting, Atento’s ordinary shares are projected to be quoted on the over-the-counter (OTC) market, retaining the “ATTO” ticker symbol.
The restructuring strategy is part of Atento’s initiative to significantly reduce its balance sheet liabilities and enhance operational efficiency.
In June, Atento announced it reached an agreement with key stakeholders, paving the way for at least $30 million in near-term financing. Earlier this year, the company had raised $40 million in financing.
Headquartered in Latin America, Atento serves a broad clientele including key multinationals in sectors such as telecommunications, banking, financial services, healthcare, retail, and public administration. The company operates in 16 countries and employs approximately 135,000 people.
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