This article will look at how to process the delisting of a company where the company still continues to trade/the shares still maintain their worth.
To process the delisting, the following 2 steps will need to be completed in Simple Fund 360:
- Create a new investment account to hold the private company's securities
- Process a code class change through the corporate actions screen
A fund has holdings in IQE (Intueri Education Group Limited). The company was delisted from the ASX as of 17/01/2017. The company has not been liquidated.
To process this in Simple Fund 360, create the account to hold the securities in the unlisted company:
- Navigate to the Chart of Accounts
From the Main Toolbar, go to Accounting. Select Chart of accounts from the list.
- Click Add Account
- Select Investment
- Click Select Investment Type
- Select Shares in Unlisted Private Companies (Australian)
- Click Select Securities
- Click Create New
- Enter the details for the security that will be associated with the private company. How to add a Security
- In the New Security screen, add a price for the security. Manually Revaluing Security Prices
Next, process a code class change:
- Navigate to Corporate Actions
From the Main Toolbar, go to Investments. Select Corporate actions from the list.
- Click New Corporate Action
Record the following details:
Select Security to Process IQE.AX Select Corporate Action Code/Class Change Please select the account required for the corporate action 77600/IQE.AX ( Intueri Education Group Limited ) Ex / Balance Date 17/01/2017 Corporate Action Date 17/01/2017 Select New Security Security created for unlisted company above Please select the account required for the corporate action 77800/IQEP ( IQE Private )
Review the Corporate Action Summary and click Process Corporate Action