Donaco Delists from ASX Due to On Nut Road Merger

Donaco International Limited (DNA) announced the completion of its delisting ahead of its acquisition by On Nut Road Limited. This follows the recent approval of the latter company’s takeover of the former.

Donaco Ceases Trading

Earlier this month, New South Wales’ Supreme Court greenlit On Nut Road Limited’s acquisition of Donaco International, an Asia Pacific leisure giant. The deal, which had been in the works for a while, will see On Nut Road, an Argyle-backed special purpose vehicle, buy out all of DNA’s shares.

With the deal having secured all necessary shareholder and regulatory approvals, Donaco announced that it has formally ceased trading on the Australian Securities Exchange (ASX).  

In its official announcement, the operator said:

Donaco International Limited (DNA) will be removed from the Official List at the close of trading today, Wednesday, 20 August 2025 in accordance with Listing Rule 17.11, following implementation of the scheme of arrangement between DNA and its shareholders in connection with the acquisition of all the issued capital in DNA by On Nut Road Limited.

DNA statement

Donaco previously promised that all eligible shareholders would be paid on August 19, 2025.

The End of Donaco’s ASX Era

Donaco’s leadership and shareholders previously expressed overwhelming support for On Nut Road’s acquisition proposal. The merger comes amid a troubled time for DNA, which has encountered various setbacks in Cambodia and Vietnam, including tax uncertainty in the former country.

Donaco has been further impacted by Thai border restrictions that have limited the flow of customers to Donaco’s Star Vegas Resort & Club.

Now under new ownership, Donaco will enter a new era in which it hopes to deal with the headwinds and continue its growth. At the same time, the merger marks the end of an era, halting the company’s almost 21 years on the ASX.