Cosan S.A. Files Form 25 to Delist ADSs from NYSE
Cosan S.A. filed a Form 25 with the SEC to voluntarily remove its American Depositary Shares from the New York Stock Exchange, effective September 8, 2026.
What happened
Cosan S.A., a Brazilian company whose American Depositary Shares (ADSs) trade on the New York Stock Exchange (NYSE), filed a Form 25 with the U.S. Securities and Exchange Commission on September 8, 2026. The filing notifies the SEC that the company's ADSs are being removed from listing and registration on the NYSE.
The filing indicates the delisting is voluntary. Under the form, Cosan checked the box stating that the issuer has complied with the exchange's rules and SEC requirements governing the voluntary withdrawal of the securities from listing and registration.
The ADSs represent common shares of Cosan S.A., a company headquartered in São Paulo, Brazil, with operations in retail auto dealers and gasoline stations. The stock closed at $2.99 on the filing date, up 3.02% from the previous close.
Context
Cosan S.A. is a Brazilian conglomerate with interests in sugar, ethanol, fuel distribution, and logistics, among other sectors. Its ADSs, each representing four common shares, have been listed on the NYSE under the ticker "CSAN."
The Form 25 does not state a reason for the voluntary delisting. It only confirms that the company has met the requirements to withdraw its ADSs from the exchange.
The filing was signed by the company's Chief Financial and Investor Relations Officer, indicating that Cosan initiated the delisting process.
What this means
A Form 25 is the official notice used to remove a security from listing on a U.S. exchange and to deregister it under Section 12(b) of the Securities Exchange Act of 1934. Either the exchange or the issuer can file it; here, Cosan filed it voluntarily.
This is a delisting of Cosan's ADSs, which are U.S.-traded receipts representing shares of the Brazilian company. ADSs allow U.S. investors to hold foreign stocks more easily. After the delisting becomes effective, the ADSs will no longer trade on the NYSE, though the underlying shares continue to trade on the Brazilian stock exchange (B3).
The filing does not reveal why Cosan chose to delist. Following a Form 25, the SEC typically terminates the security's registration after a short period, and the company would no longer have U.S. reporting obligations under the Exchange Act, unless other securities remain registered.
Sources
- 25 filed 2026-09-08
- Daily price history
Information summarized by AI from the sources listed above. May contain errors — informational only, not investment advice.