AstraZeneca Expands Horizons: Listing Move Sparks Debate
AstraZeneca plans to upgrade its listing in the U.S., retaining its London and Stockholm listings but shifting to the New York Stock Exchange. This move could prompt other UK firms to consider U.S. listings, highlighting potential risks to London's market as liquidity may shift stateside.
AstraZeneca, a major British drugmaker, has announced plans to upgrade its U.S. listing by moving to the New York Stock Exchange. This strategic decision, set for February, represents a significant shift from its existing depositary receipt structure.
With 43% of its revenue coming from U.S. operations and projections to reach 50% by 2030, AstraZeneca sees this move as aligning with its strong American investor base. Despite media speculations, AstraZeneca reassured that it remains committed to its London and Stockholm listings.
The decision underscores concerns about potential liquidity shifts affecting London's stock market, as other UK firms may follow AstraZeneca's lead. Nevertheless, UK officials view AstraZeneca's continued UK engagement as a positive signal for the British economy.
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