AstraZeneca to harmonise its listing structure across LSE, STO and NYSE

Harmonisation of listing structure requires a direct listing of AstraZeneca shares on the NYSE in place of existing US ADRs

AstraZeneca plans to harmonise its share listing structure to deliver a global listing for global investors in a global company. The Board of AstraZeneca is recommending to shareholders a Harmonised Listing Structure for the Company’s ordinary shares across the London Stock Exchange (LSE), Nasdaq Stockholm (STO) and the New York Stock Exchange (NYSE).

This requires upgrading AstraZeneca’s existing US equity listing by way of a direct listing of AstraZeneca ordinary shares on the NYSE, replacing the existing US listing of AstraZeneca ADRs on Nasdaq. Following implementation of the Harmonised Listing Structure, shareholders will be able to trade their interests in AstraZeneca ordinary shares across the LSE, STO and NYSE.

Michel Demaré, Chair, 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. Enabling a global listing structure will allow us to reach a broader mix of global investors and will make it even more attractive for all our shareholders to have the opportunity to participate in AstraZeneca’s exciting future.”

AstraZeneca’s scientific and commercial achievements have been underpinned by its continuous adaptation to a rapidly changing and dynamic industry environment, including diversifying its access paths to capital markets. The US has the world’s largest and most liquid public markets by capitalisation, and the largest pool of innovative biopharma companies and investors. The Board is determined to ensure that the AstraZeneca Group has the flexibility to access the broadest available pool of capital, including in the US, which today’s announcement will make possible.

The Harmonised Listing Structure will not change AstraZeneca’s current status as a UK listed, headquartered and tax resident company which will continue to be included in the FTSE 100 index and the OMX Stockholm 30 index. The Company will remain bound by applicable UK governance principles and standards (including the Companies Act 2006 and the UK Corporate Governance Code) following the implementation of the Harmonised Listing Structure.