Tui is contemplating withdrawing its listing from the London Stock Exchange, influenced by the UK’s flagship shares index’s underperformance compared to its European counterparts.
The travel firm noted that shareholders have raised concerns about the effectiveness and benefits of its current listing status. There has been a significant shift in share ownership from the UK to Germany over the past four years, as observed by the company.
Consequently, Tui is mulling over the idea of proposing a delisting from the London Stock Exchange at its upcoming Annual General Meeting in February.
The alternative proposed is a listing on Germany’s MDax market, which ranks just below the Dax, Germany’s leading index. This decision would require the approval of at least 75% of the shareholders.
The company’s statement highlighted that, based on shareholder feedback, they are assessing whether shifting to a prime standard listing in Frankfurt with MDax inclusion and delisting from the London Stock Exchange would serve the best interests of the shareholders.
This consideration follows the recent performance where the Dax index in Frankfurt achieved a new record high, while the FTSE 100 experienced a decline for the second day in a row.
