Medical expertise firm Argent BioPharma has grow to be the most recent public firm to drag out of the London Inventory Change over considerations about regulatory burden and prices.
Introduced on Friday, the biotech agency mentioned it had reviewed the necessities and prices related to each its London and Sydney listings.
The corporate mentioned to “streamline and streamline processes” and “improve administrative effectivity”, it’ll search to delist its London shares, though it’ll retain its Australian itemizing.
Headquartered in Subiaco, Western Australia, Argent BioPharma listed in London in 2021, a wonderful yr for UK tech listings.
The agency struggled to keep up its share worth, beginning at 4950p and falling to simply 9p as of Friday morning, a 99.eight% drop.
The most recent UK monetary accounts, for the yr ending June 2023, noticed the corporate lose greater than £4m on simply £120,000 in income.
It turns into the most recent in a rising record of corporations to desert London markets, normally citing regulatory prices and a scarcity of liquidity as the rationale.
This week, quick meals supply group Simply Eat Takeaway he introduced its plans to halt buying and selling in London from Christmas Eve.
In an announcement, Simply Eat Takeaway mentioned it “thought of, amongst different issues, the liquidity and buying and selling volumes, in addition to the price and administrative necessities of its major itemizing in Amsterdam and secondary itemizing in London”.
In response to the evaluate, the “administrative burden, complexity and prices related” with its London itemizing, in addition to the “low liquidity and buying and selling volumes of the shares on the LSE” have been such that it now not appreciated the advantages to stay.
Like Argent BioPharma, Simply Eat is focusing its efforts on its foremost itemizing, Euronext Amsterdam.
The corporate's newest buying and selling replace, for the third quarter of 2024, revealed that orders fell in all of its markets.
This week, marine expertise agency OTAQ introduced its plans delisting from Aquis Change.
In the meantime, London's Different Funding Market (AIM) has seen 92 corporations delisted up to now yr.
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