Shareholders of buy now pay later company Payright have backed a resolution to remove the company from the official list of the Australian Securities Exchange. They also voted in favour of changing the company’s name to Navalo Financial Services Group. The company said its reasons for seeking removal from the ASX official list included its small free float, limited trading in its shares, a share price that undervalues the company, a lack of investor interest in the stock and the cost of listing. It is also now 85.2 per cent owned by lender Metrics Credit Partners, so its free float is extremely limited. Payright is one of the smaller BNPL players. During the December half it earned revenue of A$9.1 million on receivables of $117.9 million. It lost $4.9 million. It will be suspended from quotation on July 26 and removed from the official list on July 28. It follows BNPL provider Laybuy, which delisted in March.