Amryt to delist from AIM, concentrate on Nasdaq trading

(Sharecast News) - Commercial-stage biopharmaceutical company Amryt Pharma announced its intention to cancel its shares from trading on AIM on Monday, with effect on 11 January.
The firm said that as such, its last day of trading on AIM would be 10 January, although it would retain its listing of American depositary shares on the Nasdaq Global Select Market under its existing ticker symbol 'AMYT'.

Its board said it believed that the AIM delisting would further enhance the liquidity of trading in the company's securities, by combining the volume of transactions from both the Nasdaq and AIM on the Nasdaq.

In the month ended 17 November, about 87% of trading in the company's shares was in the form of American depositary shares on Nasdaq, and on that date, 73.2% of its shares were represented by shares tradable on Nasdaq.

The company said it was providing an opportunity for shareholders to deposit their ordinary shares with the company's Nasdaq depositary in exchange for American depositary shares without cost, before the AIM delisting on 11 January.

"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," said chief executive officer Joe Wiley.

"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.

"We believe now is the right time to reduce the complexity and significant resources devoted to maintaining a dual listing."

At 1119 GMT, shares in Amryt Pharma were down 5.99% at 157p.