AstraZeneca's CEO Pascal Soriot expressed a desire to move the company’s stock market listing from the UK to New York, potentially considering a change in domicile as well. This move could significantly affect the London Stock Exchange, already facing exits from other major companies seeking better valuations. AstraZeneca's stock price rose by 2.8% following the news. The UK government may oppose the shift, although it cannot officially prevent it. AstraZeneca has also encountered issues with NHS drug approvals and previously withdrew from a significant vaccine production project, citing financial concerns.
AstraZeneca's chief executive Pascal Soriot aims to shift the company’s stock market listing from the UK to New York, contemplating domicile move as well.
The potential shift to the US market could negatively impact the London Stock Exchange, which struggles with several notable departures of significant companies.
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