Tui Group has called on investors to vote in favor of plans to delist the company from the London Stock Exchange, amid an exodus of firms from the troubled bourse on concerns over low valuations and a lack of liquidity. If approved, Tui’s proposals would see the German travel company shift its primary listing onto the Frankfurt Stock Exchange in June 2024.
The Hanover-headquartered airline said its plans are aimed at boosting liquidity and simplifying its ownership structure following a market shift that has in recent years seen 77% of all trading in Tui shares take place in Germany. Tui
TUI,
-6.38%
shares increased 1% on Tuesday, after the company outperformed analysts’ expectations, posting a 14.7% uptick in revenues to a record high of €4.3 billion. Shares in Tui have fallen 33% over the past 12 months. In order to be approved, the proposals now require the support of a supermajority of 75% of Tui’s shareholders, in a vote that will take place during its annual general meeting on Tuesday. If completed, Tui’s exit will come as another blow to the LSE, which some analysts have said is now in a “doom loop,” as major companies have increasingly started to shun Britain’s main bourse. Analysts at Peel Hunt, led by Charles Hall, have argued a lack of in …
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The Hanover-headquartered airline said its plans are aimed at boosting liquidity and simplifying its ownership structure following a market shift that has in recent years seen 77% of all trading in Tui shares take place in Germany. Tui
TUI,
-6.38%
shares increased 1% on Tuesday, after the company outperformed analysts’ expectations, posting a 14.7% uptick in revenues to a record high of €4.3 billion. Shares in Tui have fallen 33% over the past 12 months. In order to be approved, the proposals now require the support of a supermajority of 75% of Tui’s shareholders, in a vote that will take place during its annual general meeting on Tuesday. If completed, Tui’s exit will come as another blow to the LSE, which some analysts have said is now in a “doom loop,” as major companies have increasingly started to shun Britain’s main bourse. Analysts at Peel Hunt, led by Charles Hall, have argued a lack of in …nnDiscussion:nn” ai_name=”RocketNews AI: ” start_sentence=”Can I tell you more about this article?” text_input_placeholder=”Type ‘Yes'”]