Drug maker Indivior has announced plans to delist its shares from the London Stock Exchange (LSE), marking the latest company to abandon the UK market for the US.
However, the LSE welcomes Anglo-American’s platinum spin-off Valterra after becoming independent from the mining giant.
Indivior’s exit comes after the company moved its primary listing to the US’s Nasdaq index last year.
It said cancelling the secondary listing in London eliminates “cost and complexity” and better reflects the business – with more than 80% of its revenues generated in the US.
It also said liquidity on the Nasdaq now “far outweighs” that of the LSE with a greater level of trading.
The US-based pharmaceutical firm makes prescription medicines to treat opioid addiction, and has a market capitalisation of £1.2 billion.
“A single primary listing on Nasdaq best reflects the profile of Indivior’s business,” chairman David Wheadon said.
“We appreciate the support received from shareholders for this initiative and look forward to capitalising on the expected benefits of this move, including reductions in cost and complexity.”
The LSE faced the largest exodus of companies since the global financial crisis in 2024, according to EY analysis.
There were 88 companies to delist or transfer their primary listing from the main market – the most since 2009.
At the same time, the LSE struggled to attract as many new companies to fill the gaps – with 18 new listings in total last year.
Nevertheless, Indivior’s exit, which will take effect from July 25, comes as Valterra Platinum makes its debut on the London market.
Anglo American spun off its platinum business into the new entity, which has become the world’s most valuable producer of the metal.
Valterra will have its secondary listing on the LSE, with its primary on the Johannesburg Stock Exchange.
Duncan Wanblad, Anglo American’s chief executive, said: “Valterra Platinum has been a major part of the company for many years but now is the right time for it to optimise its value creation prospects on an independent path – it’s an outstanding business and team and I have every confidence that Valterra Platinum will thrive as a leader in the global platinum group metals industry.”
