United Drug to delist from Irish exchange early next month
Irish Stock ExchangeHealthcare company United Drug yesterday confirmed its departure from the Irish Stock Exchange as it announced it is to seek inclusion in the UK FTSE index.
The company will delist from the Irish exchange on October 3rd, and expects to be eligible for inclusion in the FTSE index by December 21st.
The company had previously disclosed in August that it was reviewing its listing arrangements in light of its increasingly international presence. Around 50 per cent of United Drug’s operating profit derives from Britain, with around 30 per cent generated in Ireland.
Chief executive Liam Fitzgerald said yesterday that the move was a “natural progression for United Drug, given the international nature of the business”.
The change will have “no impact on the business operations of United Drug and United Drug will remain headquartered, incorporated and tax-resident in Ireland”, he added.
The company employs around 600 people in Ireland.
CRH, Elan, and Greencore, have switched their primary listings from Dublin, although CRH and Elan still maintain a secondary listing in Dublin.