The Irish Stock Exchange notes United Drug’s announcement that its Board is reviewing the company’s listing arrangements to allow for potential inclusion in the FTSE UK Index Series.
This review is prompted by the rules for inclusion in the FTSE UK Index Series, which require that at least 50% of trading in a constituent company's shares takes place in the UK. Approximately 90% of United Drug's trading currently takes place on the Irish Stock Exchange.
United Drug accounts for approximately 1.1% of the ISEQ index and the index will be reweighted as appropriate if the company ceases to be a constituent.
The Irish Stock Exchange continues to provide leading Irish companies with the ability to list on an EU regulated market, flexible currency arrangements, inclusion in Irish and European benchmark indices (ISEQ, Eurostoxx) and a high-quality, low cost platform allowing domestic and international investors and brokers to trade in their shares. The Irish market provides a valuable and loyal support system for growing Irish companies in broking, analysis and corporate finance expertise, as indicated by the current strong trading volumes on the Irish market for United Drug and the company's growth since listing on the ISE.
Article Published: 14/08/2012