Irish drug firm Amryt Pharma, which makes treatments for rare diseases, has announced plans to delist from the Alternative Investment Market (AIM) in London.
The company, which listed on the US Nasdaq last year, said the delisting would enhance the liquidity of trading in the company’s securities “by combining on Nasdaq the volume of transactions from both the Nasdaq and AIM”.
It said its last day of trading on AIM will be January 10th next while noting it would retain its listing on the US Nasdaq
Joe Wiley, chief executive of Amryt Pharma, said: "Increasing liquidity in our shares and ensuring Amryt is an attractive investment opportunity for existing and new investors is a core strategic focus for Amryt.
“Since our Nasdaq listing in July 2020 and more recently following the Chiasma acquisition, the vast majority of trading in our shares has taken place on Nasdaq,” he said.
“We believe now is the right time to reduce the complexity and significant resources devoted to maintaining a dual listing. We believe concentrating liquidity in one trading venue may attract increased investor interest in our company and will benefit all shareholders,” he added.
