UK's OKYO Pharma plans to delist from London in May, Health News, ET HealthWorld
Bengaluru: British ophthalmology-focused bio-pharmaceutical company OKYO Pharma said on Tuesday it plans to delist from the London Stock Exchange next month, citing tepid volumes of trading and low valuations. London is at risk of losing its appeal for stock market listings, some investors and financial executives had said last month, with sluggish trading and low valuations driving more companies to float elsewhere. OKYO said in a statement that the delisting will have no impact on its American Depositary Shares (ADS), which are traded on the Nasdaq. The company will put proposals to shareholders to consolidate every 65 existing ordinary shares into one new share of no par value to match current ADS ratio and then directly list its new shares on Nasdaq in place of the current ADSs. Okyo's delisting will be effective from May 12. Flutter Entertainment, the world's biggest betting company, is considering an additional listing in the United States, while Dublin-based construction materials company CRH is planning to move its primary listing to the US from London.
Tuesday, April 4, 2023 at 9:23 am