TUI – the world’s largest holiday company – will let its shareholders vote on its plans to close its London Stock Exchange share listing and solely trade its shares on the Frankfurt Stock Exchange.
Currently, TUI has its shares listed in both cities, but nowadays most of its shares are bought and sold in Frankfurt.
That has led major institutional investors to question TUI’s board as to the viability and necessity of a dual stock exchange listing.
TUI plans to move its Frankfurt listing to that bourse’s Prime Standard market (currently, Frankfurt is TUI’s secondary listing) in early April and de-list from the London Stock Exchange sometime in June.
Before that, the group will put the matter to a shareholder vote at its annual general meeting next month, on February 13.
