eToro to remove Credit Suisse stock from list of trading instruments
Online broker eToro has published a notice to its clients regarding the trading in Credit Suisse stock.
Credit Suisse Group AG will be acquired by UBS Group AG and the date for the completion of the deal is Monday, June 12, 2023.
The deal terms are stock of UBS holders will receive 1 UBS share for every 22.48 shares held.
Due to this event, $CSGN.ZU will be offered to eToro clients until the closing of the market on Thursday, June 8th, 2023. Afterwards, the stock will no longer be traded on the eToro platform.
As eToro does not support this event, users will not be receiving shares of $USB (US Bancorp) for their $CSGN.ZU shares. eToro will start the liquidation process on Thursday, June 8th after the closing of the market.
Once done, eToro will close users positions at the average liquidation price.