Tui urges shareholders to support London de-listing

A vote will take place on 13 February following the proposal, which would see the London de-listing this summer.

Tui argues 77% of its shares are traded on the Frankfurt exchange and that it will be upgraded to prime status on the German market if all its trading takes place there.

Tui said “certain investors” had asked for a simplified listing following a growing proportion of shares being traded in Frankfurt after the merger of the German Tui AG and UK Tui Travel companies in 2014.
 
Mathias Kiep, Tui chief financial officer, said: “Following the successful merger of Tui AG and Tui Travel at the end of 2014, the dual stock exchange listing was the right decision and offered many advantages. 

“In the meantime, the majority of our shares’ liquidity has migrated to Germany. 

“Terminating the listing in London would offer clear advantages for investors and the company: Simplification of structures, improvement in liquidity and indexation as well as benefits for the EU ownership of our airlines.”

If approved, Tui will move to the Prime Standard market segment of the Frankfurt Stock Exchange “on or around” 8 April 2024. Tui added: “The de-listing from the London Stock Exchange is expected to take place in June 2024.”