Both the Dublin and London stock exchanges has approved paper-based packaging group Smurfit Kappa’s request to transfer to a premium share listing in London, while transferring its share listing on the Irish Stock Exchange to a secondary listing.
The share transfers take effect from today.
The move follows a review of the company’s listing arrangements where it switched from trading in euro to sterling in London last month.
In a statement today Smurfit Kappa said it “expects to remain a constituent of the MSCI Euro indices, the EuroStoxx indices and the ISEQ indices, among others”.
The group has operations in Europe, Latin America, the United States, and Canada.
The company said the move was taken “to assist in increasing the profile of the company, providing it with exposure, and increasing its attractiveness, to a wider potential investor base and enhancing the liquidity of its shares”.
Smurfit Kappa also said the share listing switch positions the company for future admission to trade on the FTSE 100 index.
Smurfit Kappa remains headquartered and tax resident in Ireland.
