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AstraZeneca has announced an overhaul of its US listing, ditching the American depositary receipts that have until now given US investors exposure to the UK’s largest drugmaker.
Announcing the move on Monday, AstraZeneca said it would directly list its ordinary shares, which are typically easier to trade than ADRs, on the New York Stock Exchange.
The FTSE 100 company will retain a full listing on the London Stock Exchange.
Michel Demaré, chair of AstraZeneca, said: “Today we set out our proposed harmonised listing structure which will support our long-term strategy for sustainable growth, while remaining headquartered in the UK and listed in London, Stockholm and New York.”
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