US EditionAstraZeneca to switch to direct US listing, retain UK base
AstraZeneca will maintain UK headquarters while enabling direct US share trading to access a broader investor base and support $50 billion US investment plans.
- AstraZeneca will directly list ordinary shares on the New York Stock Exchange while keeping its UK headquarters and primary listing on the London Stock Exchange.
- With the US its largest market, AstraZeneca is increasing focus there, aiming to reach a broader mix of global investors and reflecting 42% of group sales and more than 18,000 staff.
- Operationally, the move shifts US trading away from American Depositary Receipts to ordinary shares, while plans include a Virginia manufacturing facility and R&D expansion across Maryland, Massachusetts, California, Indiana and Texas.
- Market reaction saw AstraZeneca shares climb 0.7%, and shareholders will vote on November 3; Neil Wilson called it a 'knock back for London' but noted relief it avoided a primary New York listing.
- The board recommends a harmonised listing across London, Stockholm and New York, with The Board of AstraZeneca proposing a Harmonised Listing Structure despite remaining UK headquartered.
23 Articles
23 Articles
AstraZeneca plans direct US listing
AstraZeneca, the UK’s second-most valuable company, announced plans Monday to directly list shares in New York, reflecting the growing appeal of US markets for foreign firms. While the drugmaker said it plans to keep its headquarters in the UK and retain its primary listing there, the move nevertheless deals a blow to London, which has seen its stock market shrink as companies hunt for capital elsewhere. The move reflects AstraZeneca’s effort to…
AstraZeneca to List Shares in New York but Keep London Base
AstraZeneca announced on Sept. 29 that it will list its ordinary shares directly on the New York Stock Exchange, replacing its American depository receipts, but said it is not abandoning London. AstraZeneca, the UK’s second-biggest listed company with a market value of 170 billion pounds ($228 billion), said the change is part of a plan to “harmonise” its listing structure across London, Stockholm, and New York, making it easier for investors to…
AstraZeneca plans to list on NYSE, but will remain in the U.K.
AstraZeneca laid out plans on Monday to switch to a direct listing of its shares in the United States, as the drugmaker seeks to maximise gains from a booming U.S. stock market, even as it said it was not exiting London. The decision to remain UK-based and listed there will be of some relief to British investors after media reports suggested the Anglo-Swedish drugmaker—London’s most valuable company—was considering ditching its UK listing in fav…
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