Jitters in London as AstraZeneca harmonizes stock listings

AstraZeneca (LSE: AZN) is proposing a reshaped share listing that will give investors direct access to its ordinary shares on the New York Stock Exchange, replacing the current American depositary receipts traded on Nasdaq. The change will create a single harmonized structure across London, Stockholm and New York.

Chairman Michel Demaré said the plan will “support our long-term strategy for sustainable growth, while remaining headquartered in the UK and listed in London, Stockholm and New York.” He added that the new framework would broaden the investor base and make AstraZeneca “even more attractive for all our shareholders.”

The company stressed that its headquarters, tax residence and primary listing would remain in the UK, and that it will continue to be part of both the FTSE 100 and the OMX Stockholm 30. A shareholder vote is scheduled for November 3.