AstraZeneca Switches to Direct U.S. Listing, Keeps U.K. Base

AstraZeneca said it will directly list its shares on the New York Stock Exchange (NYSE), replacing its current depository shares, while maintaining its London listing and U.K. headquarters, Reuters reported.

The announcement offers reassurance amid concerns over London’s shrinking stock exchange. (Photo: AstraZeneca U.S.)

The decision follows speculation that the Anglo-Swedish drugmaker — London’s most valuable listed company — might abandon the U.K. market entirely in favor of higher valuations and deeper capital pools in the U.S.

The announcement offers reassurance amid concerns over London’s shrinking stock exchange.

Earlier this month, AstraZeneca also paused a planned £200 million ($268.8 million) investment in its Cambridge research site. “Enabling a global listing structure will allow us to reach a broader mix of global investors,” Chair Michel Demaré said in a statement.