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United Drug may be next to de-list from Irish Stock Exchange

In favour of its London counterpart.

CEO Liam Fitzgerald
CEO Liam Fitzgerald
Image: Photocall Ireland!

HEALTHCARE SERVICES COMPANY United Drug is considering de-listing its shares from the Irish Stock Exchange, it was revealed this morning.

In its interim management statement, the board said it is currently reviewing its listing arrangements as a result of significant growth in global operations and the “substantial presence of international investors on the share register”.

The Irish-based company employs 4,500 people worldwide and operates in five international markets.

The drugs distributor believes an inclusion on the FTSE UK would be beneficial as it would further increase investor awareness of United Drug. If the shares were listed solely on the London Stock Exchange, then the company should be eligible for the FTSE UK Index Series.

The board said it is exploring the possibility of de-listing from the ISE and a further announcement would be made “as appropriate”.

If it goes ahead with the de-listing, it would be another major name lost after Greencore and Balmoral International removed their shares last year. Cement giant Readymix is also considering de-listing.

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