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Iberdrola's Delisting from TR

Hey everyone, I’d love to tap into your experience and knowledge ✌🏻

I received two emails today about the delisting of Iberdrola $IBE (+0.79%) at Lang & Schwarz, so it’s no longer tradable on TR ad hoc. It’s been performing pretty well for me in my savings plan for quite some time—I would have let it continue—but now I don’t have any way to trade it at all...

Is this something “temporary” that investors just have to sit out for a while?

Or should I try to transfer my account to another broker now?

Does anyone have any tips on which broker I could use as an alternative?

15 Comments

SakEr@SakEr

Here's what the AI explained to me:

Iberdrola is currently conducting its annual "Iberdrola Retribución Flexible" (optional dividend/scrip dividend). During this corporate action, brokers such as Trade Republic may temporarily restrict or suspend trading until the technical processing is complete.

What do you need to do? In most cases: nothing at all.
Trade Republic usually processes the corporate action automatically. Depending on the options Trade Republic offers for this capital measure, you will either:
- automatically receive the default option, or
- receive a notification in the app if you can choose between a cash dividend and shares.

So there is no delisting, and you keep your shares.

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Ochse@Ochse

@SakEr So TR Support replied that it’s a delisting and that a partial portfolio transfer makes sense so that you can continue trading.

According to my research:
This delisting is apparently a consequence of TR recently adding 30 more trading venues. Lang & Schwarz isn’t too thrilled about this, since they previously held exclusive rights as a trading venue.

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SakEr@SakEr

@Ochse
Customer Service in the App:
We're working on it.
You may have recently received an incorrect message about Iberdrola. The stock is still tradable. We'll send you a correction email with all the details shortly.

It does indeed appear that TR no longer trades Iberdrola stock through L&S. Let’s wait and see when and through which platform the stock will be tradable later on.

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SakEr@SakEr

We just received the following email: We recently informed you that Iberdrola was no longer available for trading. That information was incorrect.
Iberdrola remains tradable on Trade Republic. You can continue to hold your shares or buy and sell them as usual.

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Ochse@Ochse

Wow... Thanks so much for the info.

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Lanre@Lanre

Same situation and same questions. I would appreciate more information too!

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Finanz_Fuchs@Finanz_Fuchs

I just received an email saying that it was a case of misinformation after all and that the stock remains tradable as usual...

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Ochse@Ochse

@Finanz_Fuchs Well, let's see when I get the email; as long as everything stays the same, that's all that matters 😅

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Finanz_Fuchs@Finanz_Fuchs

@Ochse I already had my IBE shares transferred to Consorsbank (my second brokerage account) yesterday. I'm tired of the hassle with Iberdrola at TR—it feels like there are problems there twice a year...

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Ochse@Ochse

@Finanz_Fuchs This is the first time I've encountered this situation—does Consorsbank have any issues in this regard, or would you recommend it?

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