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According to the Astrazeneca Pascal Soriot CEO, drawn in London on June 28, 2023, wants to transfer a list of London’s company’s shares to the United States.
Justin Talis | AFP | Gets the image
Pressing on the London Stock Exchange, with reports that British pharmaceuticals Astrazeneca Can move your list to the US by striking this week.
CEO Pascal Soriott is considering postponing the company’s shares from London to the USA, British newspaper Term It was reported on Tuesday afternoon with reference to anonymous sources. Soriot’s frustrations are said to be the UK’s regulatory conditions – in particular, the rules over new approval and drug pricing – manages this step.
Astrazeneca refused to comment on the Times report.
Company’s output from the UK market causes the main index to reconstruct, given that Astrazeneca is the most valuable business specified on the London FTSE 100. According to LSEG, according to LSEG, Astrazenca market limit amounted to £ 161.2 billion (221.1 billion dollars).
The potential transatlantic step Astrazeneca will add concern to London’s weak status as a global financial center. Over the past year, a number of companies have deviated from the London market or revised plans to swim a shares in the city.
Tony Miduz, Head of Investment Department in London Bri Wealth Management, indicated rumors of Astrazeneca transfer as “disappointing” for the UK stock market – but he admitted that “it is not surprising”, given that it would have the last development in a broader trend.
Earlier this year, Appeared reports This Chinese fast fashion giant Shane wanted to list in Hong Kong instead of London when it becomes publicly available. Last week’s Reuters News Agency report What the company planned to submit confidentially on IPO Hong Kong.
Meanwhile, investor Metals Investor Cobalt Holdings confirmed CNBC that he had abandoned plans for London IPO while British Fintech Giant Wise announced in June that he moved his main list from London to New York.
Krista Koarman, CEO and co -founder of Wise, said in a statement at the time that the move would help to increase the company’s awareness in the US, giving the firm the best access to the “deepest capital market in the world”.
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The companies listed in London have historically had much smaller estimates than their colleagues on Wall Rate. Research Last year, the British Rathbones Investment Rathbones showed that the value for profit for the UK’s stock was 32%than the US -similar basis.
On Flipside, Financial Times report Last week, the Norwegian program giant Visma chose London for his future debut in the public market.
“Big and important companies, such as Astrazeneca, are looking for an increase in evaluation from an exposure to a broader investor base, and they will get it from transition to the US,” Meadows Bri CNBC said on Wednesday.
“The tendency to move the list or the stream of absorptions for the promotions listed in the UK, emphasizes the value in the UK stock market, but it does nothing to encourage the new supply of companies that list here to support the future of the index in a global context,” Meadows added.
“UK is losing an advantage”
Claire Tracheth, founder of the M&A Advisory Tracet, said Astrazenca moves her list to New York, will be a “unforgettable loss” on the London Stock Exchange.
“Given the complexity of the company, it is not just a -to -liquidity or the benefits of evaluation, which are often quoted by firms, rather than trial of insufficient capital markets, regulatory restrictions and unequal stimuli, which impede the scale and reward of innovation at home,” she said by email.
Trachet added that companies listed in London, which make up more than $ 100 billion, have already moved to New York-and Astrazeneca departure in recent years.
“The potential step allows you to hurt the world-wide markets that the UK loses the preference for the needs of world classes, large-scale companies,” she said. “This is not an isolated story – and this is the biggest problem. This is part of a broader change where the founders and councils are increasingly looking for the United States for deeper capital, stronger support and more ambitious investor base.”
Tom Bacon, a London partner at a global law firm BCLP-which has a unit dedicated to M&A and Corporate Finance-said reports on the desire of Soriot Astrazenca Soriot to move away from London “very worry”.
“I think that for the UK government, this should surrender the alarm that they need to do more to support the city and our stock market, along with our critical industries such as life sciences and pharmaceuticals,” he said.
Change in the list “will not be a simple step to pull”
Dan Koulswort, AJ Bell investment analyst, said on Wednesday that Astrazeneca plans appear to be conditioned by business needs, rather than pursuing a higher appreciation – but he added that moving the company’s list across the Atlantic “would not be a simple step to pull.”
“Unlike many other market -based” rebuilders “with the dominant US shareholder base, such as CRH and Flutter, Astrazenca has a more geographically diverse pool of investors,” he explained.
However, Coatsworth noted that Astrazeneca brings about 42% of its sales to the United States and is already plans to increase its operational mark in the country.
Earlier this year, CEO Soriot said CNBC Astrazeneca was “very committed to the United States”, where the company has two major research and development centers.
CotSworth Aj Bell said CNBC that the CEO of Astrazenca could also consider the full list of shares in the US as “a step to get better treatment”.
European pharmaceutical companies face uncertainty around its future in the US market where US President Donald Trump threatens special drug import tariffs.
While the industry was exempted from the so -called Trump mutual tariff plans when they were submitted in April, the White House leader has since been since posted the sector investigated According to the US Trade Department, prevent Tariffs on Pharma “fast” and fast “and signed the executive order Direction of medicine manufacturers to reduce the cost of some drugs according to costs abroad.
