Ryanair set to delist from LSE

Ryanair Holdings is set to delist from the London Stock Exchange (LSE) citing diminishing interest in its shares from UK investors post Brexit.

“I think we will probably delist sometime in the next six months,” chief executive Michael O’Leary said during an earnings call.

According to the Ryanair (FR, Dublin Int’l) parent, as part of the EU/UK Trade and Cooperation Agreement which came into effect on January 1 of this year, the voting rights of non-EU (including the UK) shareholders have been restricted in that they are no longer allowed to buy Ryanair ordinary shares (although they can buy American Depository Receipts which are listed on the US Nasdaq).

“The migration away from the LSE is consistent with a general trend for trading in shares of EU corporates post Brexit and is, potentially, more acute for Ryanair as a result of the long-standing prohibition on non-EU citizens purchasing Ryanair’s ordinary shares being extended to UK nationals following Brexit,” it said. “The Board of Ryanair is now considering the merits of retaining the Standard listing on the LSE.”

Aside from its ADRs, Ryanair also has a primary listing on the Euronext Dublin bourse. It said that despite depressed demand for its stock from UK investors, it did foresee its EU shareholding growing over time.