Business Irish

Saturday 24 March 2018

C&C plays down talk of London switch

Peter Flanagan

Peter Flanagan

C&C has played down any suggestion that it might move its stock market listing from Dublin to London, even as the company takes out a primary listing on the London market.

In a statement, the owner of Bulmers cider in Ireland said it was proposing to transfer its status in London from a "standard" listing to a "premium" one.

C&C has long been seen as a prime candidate to move its main listing from Dublin. Last year, company chief executive Stephen Glancey admitted it "wouldn't take much" to cause the company to look seriously at moving its primary listing from Dublin.

The company, however, has unambiguously said it would not be moving its listing anytime soon.

Yesterday's move was apparently just procedural and in line with accepted corporate governance best practice.

Only four companies listed in Dublin do not have premium listings in London. Aer Lingus, Smurfit Kappa Group and IFG are the others.

C&C has taken a battering in recent weeks, with market analysts questioning its tactics in the US market, where it invested $300m (€226m). Shares in the company rose 4pc yesterday, closing at €4.26.

Irish Independent

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