Following a successful tender, the company says it intends to delist the ADSs and the shares, deregister with the SEC, and terminate the ADS agreement with BNY/Mellon. Exactly what status does this leave for an ADS holder? Do you have an illiquid instrument trading on the pink sheets, or do you get illiquid Chilean ordinary shares? Do you continue to receive dividend payments?
I don't know what will happen, but here's an example of a company which voluntarily delisted:
They paid a one-time $2 dividend at the end of 2012, and they bought back their own shares when
they deemed them cheap. Yeah, the trading spreads are wider than APPL's, but that's not a big
problem if you're not inclined to trade alot.