AstraZeneca to List Shares in New York but Keep London Base

AstraZeneca announced on Sept. 29 that it will list its ordinary shares directly on the New York Stock Exchange, replacing its American depository receipts, but said it is not abandoning London. AstraZeneca, the UK’s second-biggest listed company with a market value of 170 billion pounds ($228 billion), said the change is part of a plan to “harmonise” its listing structure across London, Stockholm, and New York, making it easier for investors to trade its stock globally. Its shares will continue to trade on the London Stock Exchange (LSE), where the group will remain headquartered, a tax resident, and part of the FTSE 100. The company’s chair, Michel Demare, said the move was designed to widen the investor base while keeping ties to Britain....