I have a small holding of Iron Mountain shares held in my SMSF. I have just had notification that the shares are to be de-listed on the ASX and converted to Common Shares on the NYSE. Should I consider selling the shares prior to the de-listing (making a small profit on today’s price) or hang on and convert to NYSE? I believe there will be some tax implications on owning US shares directly.
A: Thanks for the question about Iron Mountain.
If you only have a small holding, then:
- I would sell on the ASX prior to the delisting date of 13 August; or
- Elect to use the share sale facility they are creating which will see the shares sold on the New York Stock Exchange in the subsequent months.
Regards
