Ramsay Santé Obtains Listing Approval on the Australian Securities Exchange (ASX)
The Australian Securities Exchange (ASX) has approved the admission to listing of Ramsay Santé as a foreign exempt entity, the group announced on 12 November 2026.
This approval conditions the mechanism through which Ramsay Health Care Limited (RHC) intends to transfer its 52.79% stake in the French group to its own shareholders.
An Australian Listing Supporting the Separation from RHC
Ramsay Santé presented the ASX decision as a “new step in the separation project of Ramsay Santé and Ramsay Health Care Limited”. The application sought admission under the “ASX Foreign Exempt Listing” status, reserved for foreign entities.
RHC intends to distribute in kind to its shareholders its stake in Ramsay Santé, as part of a Scheme of Arrangement governed by the Australian Corporations Act 2001 (Cth). The listing is intended to allow RHC's eligible shareholders to hold this stake through a tradable instrument on the ASX.
Tradable CHESS Depositary Interests in Sydney, Backed by Ramsay Santé Shares
Under the envisaged terms, RHC's eligible shareholders will receive their stake in the form of CHESS Depositary Interests (CDIs). Each CDI will represent an economic interest in one Ramsay Santé share and will carry rights economically equivalent to those attached to that share.
CDI holders will exercise their voting rights indirectly, by instructing the depositary to vote on their behalf in the manner they have indicated.
A Timetable Subject to the 24 November Vote and the Court
Completion of the distribution remains subject to approval by RHC shareholders at the meeting of 24 November 2026, to approval of the Scheme by the Supreme Court of New South Wales, and to the other applicable conditions. The issuance of the CDIs is subject to the same approvals.
Subject to these conditions, trading of the CDIs on the ASX would begin on 1 December 2026 on a deferred settlement basis. The distribution would be completed on 9 December 2026, after which trading would move to ordinary settlement on 10 December 2026.
