Ryanair announced on Friday its intention to delist from the London Stock Exchange next month, saying the trading volume did not justify the costs associated with maintaining its stake there.
The Irish airline said on November 1 that it planned to leave the stock market due to falling trading volume there, causing a blow to London’s position as the global financial center after Brexit.
The move comes after the restriction of the voting rights of its British shareholders after Brexit and after the announcement of BHP in August that it will abolish the structure of the double stock exchange and will make Sydney its main stock exchange.
Ryanair said the last trading day of its shares on the LSE will be December 17.
Ryanair has said it will continue to negotiate at Euronext Dublin and the US Nasdaq. In 2012 it downgraded its admission to the LSE from premium to standard.
Ryanair chief executive Michael O’Leary said last month that Brexit had pushed the company’s share capital from the EU below 50% – as Britain is no longer part of the bloc.
In December 2020, Ryanair banned third-country nationals, including UK nationals, from buying its common stock and restricted the voting rights of its holders. In September, it forced the sale of 1 million shares it bought after the liquidation, and was out of compliance with its ownership rules.
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Source From: Capital
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