Tui to delist from LSE and focus on Frankfurt

Berto
January 4, 2024

Tour operator Tui (LSE: TUI) is planning to delist from the London Stock Exchange (LSE) in June as part of efforts to simplify its listings and boost its position in Germany.

The FTSE 250 listed company said on Thursday it will hold a shareholder vote on February 13 on the proposed delisting, which requires approval from at least 75% of investors. If passed, Tui expects its last day of trading in London to be June 24.

Tui highlighted potential benefits including centralising trading liquidity in Germany, meeting EU airline ownership rules more easily, and securing a prominent position in the MDAX mid-cap index.

The move comes a month after Tui first announced it was considering exiting the LSE in favour of an upgraded “Prime Standard” listing in Frankfurt.