DG Innovate PLC (LSE:DGI) (DGI) shares tanked almost 70% on Tuesday after the sustainable mobility and energy storage solutions firm unveiled plans to ditch its London listing.
DGI on Tuesday had flagged struggles with raising funds since joining the London market in early 2022 and said delisting would “significantly reduce” its cost base.
A request had been made to cancel its London listing by the end of January as a result, DGI noted, with plans to join a “matching platform” said to be under consideration.
Shareholders would retain their stakes, DGI added, as the delisting provided “the best available route to significant funding”.
Shares dropped 68.4% to 0.024p on Tuesday.