AstraZeneca announced plans to change how it lists shares in the United States by moving from American depositary receipts (ADRs) on Nasdaq to a direct listing of its ordinary shares on the New York Stock Exchange.
The decision, revealed on Monday, is part of a broader restructuring of its listing framework to align with its existing presence in London and Stockholm.
The move is intended to simplify access for investors, increase liquidity across markets, and ensure AstraZeneca’s equity remains easily tradable worldwide, while the company continues to be headquartered and taxed in the United Kingdom.
AstraZeneca targets global alignment
The new plan will create a harmonised listing structure that integrates the London Stock Exchange, Nasdaq Stockholm, and the New York Stock Exchange.
Currently, US investors hold AstraZeneca securities through ADRs, which represent underlying shares.
By replacing ADRs with ordinary shares on the NYSE, the company aims to remove an extra layer of complexity in trading while maintaining compliance across different markets.
ADRs are generally less liquid and more difficult to trade than common stock.
Chief executive Pascal Soriot said the move is aimed at “widening the pool of investors in AstraZeneca, especially US domestic institutional and retail investors.”
The decision comes as President Donald Trump steps up pressure on the pharmaceutical industry, threatening steep tariffs on overseas companies that do not expand investment and manufacturing in the US.
The change will not affect AstraZeneca’s headquarters in Cambridge, UK, or its status within the FTSE 100 index.
The company will also remain a constituent of Sweden’s OMX Stockholm 30 index.
AstraZeneca said the plan reflects its goal to balance accessibility for global investors with maintaining its identity as a UK-based multinational pharmaceutical group.
Impact on shareholders and trading
Shareholders will no longer rely on ADRs once the transition to ordinary shares is complete.
This adjustment is designed to give investors in the US access to the same type of equity as those in Europe, removing discrepancies between markets.
By enabling direct participation on one of the world’s largest exchanges, AstraZeneca seeks to strengthen its standing in the US, where it generates a significant portion of its revenue.
The NYSE listing will also place AstraZeneca alongside some of its biggest pharmaceutical competitors that already trade there.
Commitment to UK roots
Despite the shift in US trading arrangements, AstraZeneca confirmed that it will remain headquartered in the UK with its tax base unchanged.
Its inclusion in the FTSE 100 index will continue, ensuring its importance in the London market is preserved.
The company said the harmonisation does not signal a relocation or a change in its operational structure.
Instead, the move is focused on streamlining share access for international investors.
By being listed directly in New York, AstraZeneca expects to bridge gaps between regional investors without compromising its UK commitments.
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