NYSE to delist Ardagh Metal Packaging warrants due to low price

The recent delisting of Ardagh Metal Packaging’s warrants by the US New York Stock Exchange (NYSE) is a notable development in the financial market. This decision was prompted by the “abnormally low selling price” levels of the securities, denoted by the symbol AMBP.WS. Following the delisting announcement, trading in the warrants was subsequently halted on 25 November 2025.

The NYSE’s move to delist the warrants falls under the purview of Section 802.01D of its Listed Company Manual, which specifically addresses delisting criteria related to price considerations. Despite the delisting process initiated by the NYSE, Ardagh Metal Packaging has opted not to contest the decision. This decision enables the exchange to take forward an application to the Securities and Exchange Commission to complete the delisting process once all necessary procedures are duly followed.

It is crucial to note that even though the warrants of Ardagh Metal Packaging are being delisted, they remain valid and can still be exercised. Each warrant gives the holder the right to acquire one ordinary share at an exercise price of $11.50 until 4 August 2026 or an earlier redemption date, in accordance with the terms laid out in the warrant agreement of 10 August 2020.

While the delisting solely pertains to the warrants, the ordinary shares of Ardagh Metal Packaging remain unaffected and will continue to be traded on the stock exchange under the ticker AMBP. Additionally, Ardagh Group, the parent company, reported a rise in revenue for the third quarter of 2025, despite a deepening net loss attributed to substantial exceptional charges. The quarterly revenue figures stood at $2.5bn for the period ending 30 September 2025, reflecting an increase from $2.39bn in the corresponding period the previous year.

This positive revenue trend was underpinned by growth in metal packaging operations across Europe and the Americas, as well as a slight improvement in glass packaging activities in Europe and Africa. The company’s operational performance indicates resilience and stability despite prevailing market challenges.

In conclusion, the delisting of Ardagh Metal Packaging’s warrants is a strategic move by the NYSE to address the low selling price levels of the securities. While the warrants will not be traded on the exchange, they can still be exercised by holders. The parent company, Ardagh Group, continues to demonstrate financial growth and performance, positioning itself as a key player in the packaging industry.