TUI Group Set for Exclusive Frankfurt Listing, Exiting London Stock Exchange

In a significant strategic move, TUI Group’s shareholders have overwhelmingly endorsed the decision to withdraw from the London Stock Exchange, pivoting to concentrate solely on its presence in the Frankfurt bourse. This decision marks a pivotal shift in the company’s trading strategy, with the transition set to be finalized by June 2024. The German travel and leisure giant anticipates commencing trade on the Frankfurt Prime Standard starting April, with an expected induction into the MDAX index by June 24, 2024, aligning with its London delisting schedule.

Mathias Kiep, TUI Group’s Chief Financial Officer, emphasized the practical benefits of consolidating the company’s listing in Frankfurt, noting that a significant portion of TUI shares had already been predominantly traded in Germany. This move aims to streamline structures, enhance liquidity by centralizing trading activities, and align with EU ownership and control regulations for the group’s airline operations. Kiep reassured that this strategic shift would not affect TUI’s commitment to maintaining a diversified shareholder base, highlighting the UK market’s continued importance to the group’s overall strategy.

With approximately 77% of TUI Group’s share transactions already managed through the Frankfurt Stock Exchange, the transition reflects the existing trading patterns. An impressive 98.35% of shareholders supported the delisting proposal, underscoring strong backing for the strategy to focus exclusively on the Frankfurt listing. The group also highlighted its EU citizen majority ownership, projecting an increase in EU shareholder proportions as trading consolidates in Frankfurt.

TUI Group’s decision to move away from dual listing, a structure in place since its 2014 merger with UK-based TUI Travel, signifies a strategic realignment to optimize its market positioning and operational efficiency. The group’s portfolio includes TUI fly (Germany), TUI fly (Netherlands), TUI fly (Belgium), TUI fly Nordic, and TUI Airways, alongside a 49% stake in the ACMI start-up specialist, Fly4 Airlines. This transition is poised to streamline TUI Group’s financial operations, enhancing its visibility and appeal to investors within the European Union’s financial markets.